Process of filing Rectification Return – Tax Finance Info.
Assessee needs to rectify the Income Tax Return on receiving the order from Income Tax Department under section 143(1) or 154. The procedure of filing Rectification Return is little ambiguous compared to the regular return. Let us make it easy for you by the Stepwise procedure for filing the rectification return.
Þ Applyfor Rectification Request with CPC.
Þ On receipt of Rectification Order / Intimation examine the calculation provided by the Income Tax Department.
Þ Download the Income Tax Return Form from the www.incometaxindiaefiling.gov.in site.
Þ Fill the form by making all the necessary rectifications. It is advisory to import the previous version of return which is already submitted and saved. This will decrease the chances of making mistakes.
Þ Be careful there is not any revision in the Income or any claim.
Þ After duly filing all details, Validate and Generate the XML file that is to be uploaded. This is to be done because the assessee has to upload whole return and not only the schedule or field that requires changes.
Þ Login to site www.incometaxindiaefiling.gov.in.
Þ Go to “My Account” option on Menu Bar.
Þ Select “Rectification” option and then choose “Rectification Upload” option.
Þ A box will appear with the heading “Submit Your Rectification Request”.
Þ Select proper assessment year and insert the correct latest Communication Reference Number that is quoted on the latest order by CPC.
Þ Enter the details of Tax Credit and Tax Liability as per the directions given.
Þ Click on “Submit” button.
Þ You will be redirected to provide further details.
Þ Select the proper “Rectification Request Type” from the list provided. And you also have to write the reason for such rectification.
Þ Select the proper schedule that is required to be changed. You will be allowed to select more than one schedule if the same are required to be rectified.
Þ Enter the due date of filing the return, if the same is applicable.
Þ Select the options that are applicable.
Þ Be aware while selecting proper ITR form as it is the base for filing the return without any errors.
Þ In case if there is change in the type of ITR form, select the option “ITR Type Change”. And if the same is applicable then select the ITR Form in the above step that is to be uploaded while rectification.
Þ If there is change in your address than don’t forget to check the option “Address Change Flag” otherwise the same would not be considered and the address as per the old return will be in use for communication by the Income Tax Department.
Þ Select the option “Browse” given opposite to the “Select and Upload the Rectification XML File” and select the XML File that is to be uploaded.
Þ Click on “Upload”. And the return will be uploaded.
Þ If there are no errors and everything is satisfactory than a link to acknowledgement will be provided.
Þ You will further be provided with Rectification Reference Number and Acknowledgement Number that will be useful in future.
Þ Once the Rectification Return is submitted, there can be three consequences. They are:
o If the assessing officer is satisfied by the Rectification Return than the Rectification Return may be processed and you will receive an acknowledgement.
o If the return states certain unsatisfactory things than there can be two consequences such as:
§ You may again receive a Rectification order under section 154 or
§ Unfortunately the Rectification may be rejected.
Þ You are provided with an option by the Income Tax Department that, you can withdraw such Rectification Return within 7 days of submitting such return in the cases where you need to amend the rectification or if the same is being uploaded mistakenly.