The Earnings Tax Division has defined that notices addressed to varied earnings taxpayers for incorrectly claiming tax deductions beneath Part 80 P have been delivered to them by mistake.
In reply to a query posted on X (beforehand Twitter) by the taxpayer, chartered accountant Nirav Choksi, the tax company said that “an e-mail communication concerning this shall be despatched to you shortly.”
“In a partnership agency, there are incorrect return errors.” Part 80P just isn’t relevant to companies. “It’s a futile train to reply to such system-generated queries. @IncomeTaxIndia,” Choksi tweeted on September 1.
“Intimation u/s 143(1) of Earnings-tax Act, 1961 with the error description ‘In Schedule 80P, deduction u/s 80P(2)(e) can’t be claimed on earnings aside from rental earnings’ was mistakenly despatched,” the Earnings Tax Division mentioned. An e-mail with additional info shall be despatched to you shortly. “We apologize for the inconvenience.”
Tons of of taxpayers contacted their tax advisers final week after getting these letters, which have been delivered even after that they had e-verified their returns and the deadline for doing so had handed on August 31.
The notices have been about claiming deductions that they weren’t even certified for. The difficulty right here was that these deductions have been supposed for cooperative teams quite than people.