Sec89 and Form 10E

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  1. Asish

    Asish Member

    Dear Sir/Madam,
    As the form 16 for employees has been uploaded on CPP, total tax for me to be paid is showing NIL. But when I add interest income from Fixed deposits, for which tax has been deducted, I am not going to get refund as arrears of bipartite settlement has been taken in total income. But as Form 16 showing NIL tax, sec 89 has not been processed.
    Please guide whether I need to file Form 10 E on incometax site. And do I need to add interest income in total income for submitting form 10E?
     
  2. ZED

    ZED Well-Known Member

    It is mandatory to file form 10E in order to claim benefit of S.89(1).
    Yes, you need to consider all the income

    Form 10E
     
  3. Asish

    Asish Member

    Thanks.
    In form 10E, for the FY 2015-16, whether I need to add the interest income with salary income and then deduct the eligible exemtions to get TOTAL INCOME? Or is it the total income without 80C, 80G deductions?
     
  4. Asish

    Asish Member

    Actually what I am asking is whether I need to add the FD interest income in the Total Income while submitting Form 10E? Or do I need to add the SB interest also, which is less than 10000 and exempted under 80TTE?
     
  5. ZED

    ZED Well-Known Member

    The total income would be the total income on which tax is paid. It is arrived after giving all deductions and exemptions.
    Every income including FD interest would be added and SB interest would also be added but simultaneously you will claim deduction u/s 80TTA (not 80TTE) in respect of SB interest.
     
  6. Asish

    Asish Member

    Thanks. Submitted sec 89. May I now submit my return with sec 89 claim or do I need to wait for processing of sec 89?
     
  7. ZED

    ZED Well-Known Member

    If the return was not filed earlier, file it now.
    If return was filed but form 10E was not submitted then you must have received notice for the same. Claim will be allowed on basis of the form 10E.
     
  8. Asish

    Asish Member

    Thank You. Return filed and e-verified.
    Last year I sent ITR-V via post, but now I find that return has not been processed for last year yet as ITR-V was not received in Bangalore. A lot more than 120 days passed. What to do now for last year return? Do I need to print and send that last year form again?
     
  9. ZED

    ZED Well-Known Member

    You may revise the return without making any change in it and then send its ITR-V or EVC.
     
  10. Asish

    Asish Member

    Return was uploaded on 02/03/2015, but today it was giving option to e-verify pending return. Did so via Aadhaar otp. Hope it works.
     
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