Once the assessee files the Income Tax Return, the income tax department may issue a notice for various reasons. One of these reasons is the difference in the amount of TDS as per Income Tax Return and TDS as per Form 26AS. Moreover, it reflects the gross amount of income, amount of TDS deducted and the section under which TDS is deducted. When there is a difference in the amount of income as per ITR and gross amount as per the Tax Credit Statement Form, you will receive a notice for the mismatch. The assessee should rectify the TDS mismatch and file a Revised Return under section 139(5).
- Salary Income as per Schedule S of ITR = Rs.16,25,274
- TDS under Sec 192 as per Tax Credit Statement = Rs.16,44,874
- The difference in the gross amount as per Form 26AS and the Salary as per ITR = Rs.19,600
- You will receive notice u/s 143(1)(a)(vi) for the error – Mismatch in Form 16/26AS/16A and ITR
- If you agree to the mismatch, he must file a Revised Return under section 139(5) after rectifying the error or mistake made in the ITR
Prepare and file Revised Return u/s 139(5) for TDS mismatch
- Download Utility
Therefore, download the latest java or excel utility of the applicable ITR form the income tax e-filing website.
- Open the .XML file
Open the .xml file of the original return in the utility.
- Tab – Part A General
Under the tab ‘Part A – General’, move to section ‘Filing Status’. Enter the following details:
a. Filed u/s – Select 139(5)-Revised Return
b. If revised/defective/modified enter Receipt No – Enter the Acknowledgement Number of ITR-V of the Original Return
c. Date of filing original return (DD/MM/YYYY) – Enter the date on which the original return was filed
- Schedule Salary
Under the tab ‘Schedule S’, enter the Salary details with the breakdown of Basic Salary, Allowances, Perquisites, Exempt Allowances, Entertainment Allowance and Professional Tax
- Schedule TDS
Under tab ‘TDS’, move to sections TDS1 i.e. Details of Tax Deducted at Source from Salary [As per Form 16 issued by Employer(s)]. Edit the details of TDS – enter the gross amount as per the Tax Credit Statement in column 4 (income chargeable under Salaries)
- Recalculate and Save
Click on ‘Recalculate’ in the top row and then click on ‘Save’ to generate the XML.
- Upload XML
Upload the XML on income tax website to file Revised Return u/s 139(5). Login to your account on income tax portal.
Go to e-File > Income Tax Return, enter the required details, upload the XML and submit.
1. What happens if I don’t respond to my income tax notice?
There is no way to reply after the time limit is over. The link for e-proceedings gets closed. If you do not respond to the notice within the allowed time limit, the income tax department will process the return after making an adjustment of the demand raised with the TDS credit available. They may also issue another notice to pay the outstanding demand.
The assessee can submit a Condonation Request on the income tax portal to borrow time for filing Revised Return. They need to provide a valid reason for the delay in filing ITR.
2. How do I correct a tax credit mismatch?
In case you received a notice from the Income Tax Department regarding a Tax Credit Mismatch, you will need to respond to it through the e-Filing portal by choosing the ‘Taxpayer is correcting data for Tax Credit Mismatch only’ under the options and fill in the relevant details.
3. When can I file a revised return under section 139(5)?
Revised Income Tax Return can be filed u/s 139(5) before the end of the relevant Assessment Year.