What will happen in my ITR case?
I have filled ITR 3 days ago where in TIS the interest from Savings account showing 'x' amount but when I filled the ITR2 in other income schedule I find the savings account interest showing there 'y' ( y < x) and I still filled the ITR and pay the amount as tax on the basis of that 'y' extra amount on my income. Now what will happen in my case. Do I get a notice or get a penalty? What should I do now?
You will likely receive a notice for discrepancy. What is pre-filled, may not be correct, you need to file as per AIS/TIS, or as per your actual Bank data. You can’t go by whatever is pre-populated in the ITR form.
What you should do now is, file Revised return. On the landing page itself, where it shows the last filed itr, it has “File Revised Return” link. Try that
Ohkay thanks so it was some pre-filled error right. I first thought they did some exemption on it but I think it was not the case in the new regime. Basically I have interest from 2 bank accounts but ITR pre filled data shows the amount which is equal to only one of that bank.
Yes, pre-filled data is wrong many times. Onus is on the submitter to verify and correct it as per actuals.
See more comments
