Doubts regarding ITR form e-filing : Made a mistake?

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eggman

eggman

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Hi

Ok so here is what happened. I invested around 100k LIC and PPF.
However I could not submit the proof to my office and in the form 16 i received , the amount mentioned is 10k.

I then talked to karvy iTrust , and upon their suggestion i filled 100k only in my IT return form. The Karvy guys said that they will ask for the proof of these LIC and PPF docs and hence there will be no issue.

However the did not.

So Now basically I have submitted the saving as 100k , where in the form16 it's just 10k.
I do have all the proof of my 100k investment, so I can always show them if asked.

I have just filed e-Return , so I was wondering If i should give these docs to while posting the ITR-V.
 
But won't they verify the amount ...against the Form 16 amount...

I meant anyone could lie otherwise..by not investing anything to LIC or other scheme and simply claiming it...??
 
Return filing is a no paper process. Meaning, you just submit the return form, either electronically like you have done, or physically.

The IT department validates your submission against the 26AS and other forms and decides whether to honour or not your request for refund. Most cases they honour it no questions asked. In cases where they think there is too much discrepancy, they might give you the refund but mark your case as 'to be processed'. This only means that in the next 3 years from the year of filing, they can ask you to produce those proofs IF need be.

Do not worry, you have done nothing wrong as long as you did the right declarations :)
 
eggman said:
But won't they verify the amount ...against the Form 16 amount...

I meant anyone could lie otherwise..by not investing anything to LIC or other scheme and simply claiming it...??
Click to expand...
Eggman dont worry.

First no papers are required to be attached.

Regarding 26as (as agantuk mentioned)its only for checking tds or tax deducted at source.It doesnt give details where you made investment or not.Its the institutes like bank and others when deducting taxes or your office at the same pan its forwarded to tax department.SInce lie and ppf doesn't deduct any tax hence 26as doesn't have any relation to that.

Regarding proof.Well the assessing officer acknowledges the detail as you forwarded.If he has doubt about the integrity of your investment than he can send you notice than you might need to produce same.

Hence ill say keep the documents ready and safe if in future need arises than forward the same.
 
Mukherjeeda had told that he wants to simplify the filing procedures , one steps was not to submit investment proofs with IT returns. You said someone can fool IT deptt...they have put a process in place...now eventually as time passes you will have to produce PAN for any investment, even UID may be tagged with this...once they have centralized information, they dont need your proofs, they have them in place. this will take time but a new system will evolve and in future efiling will be a big reality simplifying paper work. So govt does, for now, have in the back of their mind that some may try to con them, but the number is less and they have bigger fishes to get the recovery done from and hence the loss is miniscule. I am a certified TRP from Govt of India CBDT hence shared what goes in their mind.
 
Oh. Thanks a lot guys .

Now I can breath easily. :)

Will post the acknowledgment then . :)

Thanks a lot again. :)
 
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