Now you can rectify mistakes while filing income tax return online

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Now you can rectify mistakes while filing income tax return onlineIf you keyed in any mistakes while filling your income tax online, you can rectify them now as the Central Board of Direct Taxes (CBDT) has simplified the process of online rectification.
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Earlier, a lot of errors from taxpayers’ side due to incomplete TDS forms were leading to delays.

To avoid this inconvenience, a new facility has been provided for pre-filling of TDS schedule while submitting online rectification request on the e-filing portal to facilitate easy correction or up-dating of TDS details.

Also, notices of defective returns were issued under Section 139(9) of the Income-tax Act to Foreign Institutional Investors/Foreign Portfolio Investors (FIIs/FPIs) in cases where Balance Sheet and P&L account were not filled.

In order to overcome this difficulty, now such returns will not be treated as defective in cases where the FIIs/FPIs is registered with SEBI, has no Permanent Establishment/ Place of Business in India, has provided basic information required under section 139(9)(f) of the Income-tax Act, if there is business income.

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