Filing income tax returns is a critical aspect of financial responsibility, and the need for accuracy in the submitted data is paramount. However, discrepancies can arise, leading to mismatches in tax credits, return data, or the need for reprocessing. In the assessment year 2023-24, the Income Tax Department has introduced an updated and streamlined process for rectification requests, making it easier for taxpayers to address and rectify such issues.
Relevance of the Updated Process:
The relevance of this updated rectification process cannot be overstated. With the complexities of the tax system and the constant evolution of regulations, ensuring the accuracy of your tax filings is crucial. The new process for rectification requests specifically addresses instances of Income Tax Credit Mismatch, Return Data Correction, and Reprocessing for the assessment year 2023-24. This relevance stems from the desire to provide taxpayers with a user-friendly and efficient means to rectify any discrepancies and ensure compliance with tax regulations.
Process for Rectification Requests - AY 2023-24:
1. Income Tax Credit Mismatch Correction:
Step 1: Login to the e-filing portal using your valid ID & password.
Step 2: Go to the Services tab and click on Tax Credit Mismatch.
Step 3: Select the AY for which you want to check the mismatch.
Step 4: Review TDS and TCS claim amounts for any mismatches.
Step 5: If there is a TDS mismatch:
- a) Check your TDS certificate and inform the deductor.
- b) Deductor files a revised TDS return.
- c) File a rectification request.
Step 6: In case of other tax mismatches (self-assessment tax / advance tax):
- a) Check Form 26AS.
- b) Ensure correct challan details in ITR; file a rectification request.
- c) If challan details are incorrect, file a rectification request under Return Data Correction.
2. Steps for Filing Tax Credit Mismatch Correction:
Step 1: Login to the e-filing portal using your valid ID & password.
Step 2: Click Services > Rectification.
Step 3: Click on New Request and select Income Tax.
Step 4: Choose AY and continue.
Step 5: Select Request Type as Tax Credit Mismatch Correction.
Step 6: Edit or delete the schedule if required.
Step 7: Re-enter details without errors and submit the request.
3. Return Data Correction for AY 2023-24:
Step 1: Login to the e-filing portal using your valid ID & password.
Step 2: Click Services > Rectification.
Step 3: Click on New Request and select Income Tax.
Step 4: Choose AY and continue.
Step 5: Select Request Type as Return Data Correction (Offline).
Step 6: Download the ITR XML/JSON.
Step 7: Import pre-filled data and attach the downloaded JSON format.
4. Reprocessing the Return for AY 2023-24:
Step 1: Login to the e-filing portal using your valid ID & password.
Step 2: Click Services > Rectification.
Step 3: Click on New Request and select Income Tax.
Step 4: Choose AY and continue.
Step 5: Select Request Type as Reprocess the Return.
Step 6: Confirm and submit the request.
By adhering to these outlined steps, taxpayers can seamlessly navigate the rectification process, ensuring that any discrepancies in their income tax filings for the assessment year 2023-24 are promptly and accurately rectified. The user-friendly approach of the updated process aims to empower taxpayers and foster compliance with tax regulations,
Contributed by : Amisha at Sandeep Ahuja & co
