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Hardik

Hardik Parikh  |106 Answers  |Ask -

Tax, Mutual Fund Expert - Answered on Jul 27, 2023

Hardik Parikh is a chartered accountant with over 15 years of experience in taxation, accounting and finance.
He also holds an MBA degree from IIM-Indore.
Hardik, who began his career as an equity research analyst, founded his own advisory firm, Hardik Parikh Associates LLP, which provides a variety of financial services to clients.
He is committed to sharing his knowledge and helping others learn more about finance. He also speaks about valuation at different forums, such as study groups of the Western India Regional Council of Chartered Accountants.... more
MANISH Question by MANISH on Jul 25, 2023Hindi
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If option No is selected for 'Are you opting for new tax regime u/s 115BAC?' In Schedule VI A, if Resident assessee has claimed deduction u/s 80U for self with severe disability, then amount should be equal to Rs.125,000 SIR HELP ME TO REMOVE THIS ABOVE ERROR WHILE FILLING ITR 2,SIR I HAVE NETHER CHOSEN NEW TAX REGIME,NEITHER CLAIMIND DEDUCTION IN 80 U

Ans: Hello Manish,

I understand your concern. You're facing an error while filling out the ITR-2 form, even though you haven't opted for the new tax regime or claimed a deduction under Section 80U.

This error might be due to a system glitch or an unintentional entry in the form. Here's a simple way to address this:

1. Revisit the section of the form where you select the tax regime. Make sure you've selected the 'No' option for the new tax regime under section 115BAC.

2. Next, go to Schedule VI-A. In the section for deductions under Chapter VI-A, ensure that the field for Section 80U is left blank or zero, since you're not claiming this deduction.

3. Save the changes and try to validate and submit the form again.

If the error persists, it might be a good idea to consult with a tax professional or contact the Income Tax Department's helpline for further assistance. Remember, it's important to ensure all information is accurate to avoid any issues with your tax filing.

I hope this helps!
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Hardik

Hardik Parikh  |106 Answers  |Ask -

Tax, Mutual Fund Expert - Answered on Jul 24, 2023

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Good Afternoon Sir, recently, I filed online ITR for AY 2023-2024 I am NRI working in Saudi Arabia. I received email with below subject "Important - Rectify the defect in your Return of Income" I need to rectify and return file returns again on or before Aug 03, 2023 Can you help on this matter with chargeable fees
Ans: Good Afternoon Aejaz,

I understand your concern about the notice you've received regarding a defect in your Income Tax Return for AY 2023-2024. As an NRI working in Saudi Arabia, it's crucial to ensure your tax filings are accurate.

The notice you received typically means that there might be some discrepancies or missing information in the return you've filed. This could be due to a variety of reasons such as incorrect reporting of income, deductions, tax credits, etc.

Here are a few general steps you can take:

1. Review the Notice: The Income Tax Department usually provides a reason for the defect in the notice itself. Review it carefully to understand what the issue might be.

2. Check Your ITR Form: Go through the ITR form you've filled out. Make sure all the information is accurate and complete. Pay special attention to the sections related to foreign income, as this is a common area where mistakes can occur for NRIs.

3. Rectify the Defect: Once you've identified the issue, you can rectify it by logging into the e-filing portal. You'll need to revise your return with the correct information and submit it again.

Please note that this is general advice and the exact steps might vary depending on the specifics of your case. If you're finding it difficult to rectify the defect yourself, it might be beneficial to seek professional help. As a tax professional, I can certainly assist you with this on a chargeable basis.

Remember, the deadline for rectifying the defect is August 3, 2023. It's important to act promptly to avoid any further complications.

I hope this helps! If you need further assistance, feel free to reach out.

..Read more

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