I had e-filed my return for assessment year 2009-10. I have received notice under Section 154 for rectification. Do I have to file a letter with the department?

? Uma Shankar

The income tax department has now introduced new facility for online submission of rectification request in cases where processing was completed by the Central Processing Centre (CPC), Bangalore.

After reading the guide issued by the CPC, first rectify the return submitted and generate the rectification xml using the Excel utility. The rectification request will be processed at CPC and if found acceptable, then a rectification order under Section 154 will be issued.

I am a retired senior citizen having interest on fixed deposit as my only source of income. My total income is below the exemption limit. However, I failed to submit Form 15 H and the bank deducted TDS on my interest income. How can I claim a refund?

? Ramesh Divedi

Since, you have interest income as the only source of income and as you are covered by the exemption limit, you can file your return of income with income tax authorities and claim credit for TDS deducted by the bank. You can explore the e-filing facility provided by the income tax authorities for faster processing of your return of income, which will help you to get your quicker refund.

If I have more than one term deposit in different banks and none of the deposit exceed R10,000 individually, am I still liable for tax in case total interest for all term deposits in different accounts exceeds R10,000?

? Kapil Lohia

As per Section 194A of the I-T Act, a bank is not required to deduct tax where the aggregate amount of interest credited or paid to the account holder does not exceed R10,000.

However, the non-deduction of tax by banks on the same does not absolve the taxpayer from the responsibility of paying tax in your hands, if your total taxable income exceeds the basic exemption limit that is not chargeable to tax.

I had filed my return of income for assessment year 2011-12. Due to an oversight I had shown the wrong amount for claiming deduction for donation. What is the corrective procedure under the IT Act to claim the proper deduction now?

? Anirudh Sen

As you have already filed your original return of income, now you are required to file a revised return of income to claim proper deduction. You can file a revised return by March 31, 2013, or before the completion of assessment, whichever is earlier.

The writer is founder of RSM Astute Consulting Group.

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