If joint owners are there for housing loan, both the borrowers / co-owners are working & mistakenly both of them have shown 100% (Principle & Interest) instead of 50:50 or any other ratio while declaring the income or filing Income tax what should we do now. It's for FY 16-17 AY 17-18.. Requesting you to help in this regard at the earliest.
8 Answers
Hi,
If you have already filed your ITRs and e-verified then you can REVISE your income tax returns.
Hi Sreekanth, I am yet to file ITR but it will show as mismatch in Form 16 & ITR filling. Please help how to resolve this issue.
Hi,
I believe that you can revise your ITR based on correct data.
In case, you get a notice from the IT dept (u.s 143) for discrepancy, you may justify your 'revision of ITRs' based on the home loan statements you have.
Thanks but still i am in dilemma since if i go ahead & process the ITR based on the Form 16 received from the employer / details shared with them, the revision will make some sense since there would be a discrepancy when i compare Form 16 & revised ITR.....
Thanks but still i am in dilemma since if i go ahead & process the ITR based on the Form 16 received from the employer / details shared with them, the revision will make some sense since there would be a discrepancy when i compare Form 16 & revised ITR…..
Hi,
Kindly note Form 16s are issued after the end of FYs only.
So, you can always get back to your employer if there are any discrepancies in Form 16, can request them to revise/correct the data.
Accordingly, you can then check your updated Form 26As and then file/revise your ITR.
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Hi Sreekanth, I am yet to file ITR but it will show as mismatch in Form 16 & ITR filling. Please help how to resolve this issue.