Wrong Processing of Return by CPC
CA.Mohammed Lakkadsha
Is any aware that CPC is wrongly processing in variably all cases were loss due to Housing loan interest has been cliamed by assessee. I have various clients who have recd demand beacuse of denial of housing loan interest.Its a big issue and would create a lot of trouble for assessee as all such cases has to rectified. its it advisable that ITD suo moto should rectify all such cases and should identify how such error is happening while processing.
Return processing errors deny housing loan interest, creating erroneous tax demands and requiring systemic rectification. Incorrect automated processing at the Centralised Processing Centre is denying claimed housing loan interest deductions on returns showing losses, producing erroneous tax demands; the issue requires systemic correction by the Income Tax Department and an operational remedial mechanism, including potential electronic reporting to CPC, to rectify affected assessments. (AI Summary)
TaxTMI
TaxTMI