Index Fund Corner
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Earlier, taxpayers faced hurdles when correcting errors in their ITRs. If the Centralised Processing Centre (CPC) held access rights, rectification applications could be submitted online.
However, when access rights were transferred to the AO, taxpayers had to file paper-based requests.
This manual process often caused delays and added complications.
How the new feature works
The updated system allows taxpayers to file rectification requests online, regardless of who holds access rights.
Here’s how you can use it:
- Visit the Income Tax e-filing portal and log in with your credentials.
- Go to the ‘Services’ tab and select ‘Rectification’ from the dropdown menu.
- Select ‘Request to AO Seeking Rectification.’
- Click ‘New Request’ and provide the necessary details to complete your rectification application.
Who benefits from this update?
The new feature is helpful for resolving issues such as:
Income mismatches: Discrepancies between reported income and tax records.
Tax credit errors: Missing or incorrect Tax Deducted at Source (TDS) credits.
Exemption omissions: Exclusions of eligible deductions or exemptions.
In a separate development, the Income Tax Department has announced a key update for taxpayers eligible for the Section 87A tax rebate for the financial year 2023-24.
On December 31, 2024, the department confirmed that affected taxpayers can file revised or belated Income Tax Returns (ITR) to claim the rebate.
Eligible taxpayers can submit revised or belated ITRs through the e-filing portal or the ITR filing utility. The department stated that the updated utilities for ITR forms 2 and 3, including the option to claim the Section 87A rebate, would be made available shortly.
