Data Inconsistency issues which need to be avoided for accurate processing.
1. Set off of brought forward loss claimed, but Schedules BFLA / CFL not filled ……. Year of loss not indicated in CFL.
2. Profit before tax (at serial No. 43 of Sch. P & L Account) differs from Profit from business at serial 1 of Sch. B P
3. Depreciation claimed in Sch. BP – but Sch. DEP / DPM / DOA not filled in / Depreciation debited in Sch. P & L Account not added back in Sl. 11 of Sch. BP.
4. Special benefit for female claimed – Gender in PAN database is Male.
5. MAT credit claimed in Part B-TTI – Schedule MAT C not filled.
6. Loss from business claimed at Sl. No. 1 of sch.- BP, but no loss computed in sch. P & L.
7. Income from business considered twice : Assessee fills both Sch- P & L and Col: 51 (for no- account cases).
8. Loss from House Property claimed in Part B-TI, but the column “ Annual lettable value / Rent received” is left blank in sch. HP (System presumes it as SOP, and allows interest to the extent of Rs.1.5 lakhs).
9. Difference in incomes shown in Part B-TI and the respective Schedules ( Sch. BP / HP / CG / OS etc) .Online GST Certification Course by TaxGuru & MSME- Click here to Join
10. Assessee has not filled up Sl. 4 of Sch. BP – ( for incomes u/s 44AD – 44DA), But has entered the figures in sl. 33(i) to 33(ix) in sch. BP.
11. In Sch. BP Sl. 2 assessee reduces in “Net Profit or loss from speculative business”, but does not fill up Part B. (computation of income from speculative business) in sch. BP.
12. In Sch. Part A-OI, assessee fills in amounts against Sl. No. 6/7/8/9/11 (Any amount debited to P & L account of previous year, but disallowable u/s 36/37/40/40A/43B respectively. But the same are not added back in sch. BP.
13. In Sch. P & L account against Sl. No.3 j (Any other income) assessee enters negative value. System ignores the negative sign and considered it as positive income.
14. Set off of speculation loss against income from non – speculative business.
15. Set off of brought forward HP loss claimed while there is no income from HP in current year.
16. Tax credit claimed in Part B-TTI, without filling up Schedules TDS-1, Schedule TDS-2, and Schedule IT.
17. Deduction u/s 80P claimed – But status information in sch. “Personal information” does not indicate Co-operative Society. 4th character of PAN is for local authority.
18. In Part B-TI – CG loss claimed, but Schedule CG not filled / sale consideration and cost of acquisition not provided.
19. Trust / Society registered u/s 12A using ITR-5.
20. AOP not provided the percentage of shares of members- liable to be taxed at MMR as shares indeterminate.
21. Deductions u/s 80IA, IB, IC etc. Without filling up Schedule.
22. Due date of filing indicated as 30th September. Audit Flag u/s 44AB marked ‘N’.
23. Domestic rate of tax claimed but Domestic status flag set to N.
24. In Sch. CG. STCG (others) have been offered, but in Sch. SI, assessee indicates the same income as STCG (111A). Leads to taxation under both categories.