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Sanjeev

Sanjeev Govila  |458 Answers  |Ask -

Financial Planner - Answered on Sep 20, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more
shrinivas Question by shrinivas on Aug 10, 2023Hindi
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what is 139 (9) income tax notice

Ans: Section 139(9) of the Income Tax Act, 1961, states that when a return is found defective, the Income Tax Department will send a defective notice via email on the registered email id.

A defective return under Section 139(9) of the Income Tax Act, 1961 occurs when crucial information is either omitted or inaccurately entered in an income tax return. This triggers the issuance of a defective return notice by the IT Department, aimed at rectifying the inaccuracies.

Reasons and Situations Leading to Defective Return Notices:

1) Incomplete ITR
2) Missing Tax Information
3)TDS claimed without corresponding income
4)Discrepancy in Gross Receipts
5)Nil Income but tax liabity
6)Incomplete business and profession details
7)Tax payment Discrepancies
8)Mismatch in the name

Receiving and Responding to Defective Return Notices
Responding within a 15-day timeframe is crucial. Taxpayers must rectify the defects identified by the Income Tax Department by revising their return within this period. In case the revision cannot be completed within 15 days, an extension can be requested from the local Assessing Officer.
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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Moneywize

Moneywize   |116 Answers  |Ask -

Financial Planner - Answered on Feb 05, 2024

Asked by Anonymous - Feb 04, 2024Hindi
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Is there an option to claim any deduction under Section 89? How can I go about claiming it, or, will I get it only via refund?
Ans: Yes, there is an option to claim a deduction under Section 89 of the Income Tax Act, 1961, in specific situations. It applies when you receive income in the current year that was earned in a previous year. This often comes up with:

• Salary arrears: If you receive past due salary in the current year.
• Family pension arrears: If you receive past due family pension in the current year.
• Gratuity: Depending on the duration of your service, you may be able to claim relief under Section 89.
• Other income: There are other types of income covered by Section 89, like premature withdrawal from your PF account, commutation of pension, and compensation on termination of employment.

Here's how you can claim the deduction:

1. Eligibility: Ensure you meet the eligibility criteria for claiming relief under Section 89. You can find details on the Income Tax Department website or consult a tax advisor.
2. Form 10E: File Form 10E electronically at the e-filing portal of the Income Tax Department before filing your Income Tax Return.
3. Calculation: The relief amount is calculated by comparing the tax you would have paid in the year the income was earned with the tax you pay in the year you receive it. The difference becomes the relief amount.
4. Tax reduction: The relief amount reduces your taxable income in the current year, ultimately lowering your tax liability.

Refund vs. Reduced Tax Liability:

Whether you receive the benefit as a refund or a reduced tax liability depends on your specific situation. If you already paid taxes on the received income, filing Form 10E will trigger a refund for the relief amount. However, if you haven't paid taxes yet, the relief will directly reduce your tax liability for the current year.

Important notes:

• It's crucial to file Form 10E before filing your Income Tax Return to claim the deduction.
• The process can be complex, so consider consulting a tax advisor for personalised guidance, especially if your situation involves multiple income sources or intricate calculations.

I hope this clarifies the deduction process under Section 89. Remember, this is just general information; consulting a tax advisor is always recommended for accurate and personalised advice based on your specific circumstances.

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