Nobody is perfect in this world. Therefore, the occurrence of any discrepancies is quite natural. And who says that only the taxpayers make mistakes while filing their returns? It is also quite possible that there may be some mistakes that would happen from the hands of the Income Tax department. “To err is human and to persist the error is diabolical”. Hence, the Income Tax Department has made a provision for rectification of the mistakes occurred under the Section 154.
The instance of errors in the official records of income tax or any mistake in the judgement passed by the Assessing Officer can be rectified under Section 154 of the Income Tax Act. The rectification can be asked for either by the individual against whom the judgement is passed or by the department itself if it finds any, during the processing of the return.
Any incorrect information while filing your Income Tax Return will create some error during processing of the income tax. Because of this error, the taxpayer may receive a notice from the income tax department.
An intimation given by the Income Tax department to the taxpayer concerning the discrepancy found in the processing of his income tax return is known as a notice.
The certain discrepancies found in the processing of income tax returns can be corrected. This process is called as Rectification.
Two ways can be used to rectify the notice
The types of errors that are allowed for rectification under section 154 are
Under Section 154, the income tax authority can send an order to the taxpayer.
There are two ways that a rectification can be made under Section 154
Before filing the rectification under Section 154, you need to keep in mind the pre-requisites to be considered.
Check the TDS details on Form 26AS. After ensuring all the correct details are mentioned, click submit.
In case of any discrepancies which are mentioned under section 154 of the Income Tax Act, the IT department itself can rectify them, or the taxpayer can apply for rectification. The process of rectification is simple. The rectification can be filed only for the latest notice issued. H&R Block India has a dedicated team of tax experts who can file your tax returns and take care of the notices received along with filing a rectification return.