efiling Error Assessment Year 2020, deduction on annual value of house property should be 30% of annual value - ITR1 Error How to rectify

efiling Error Assessment Year 2020, deduction on annual value of house property should be 30% of annual value - ITR1  Error How to rectify.

In case if you receive the following error, while eFiling your income tax returns for the assessment year 2020 then how to rectify this error and continue with your filing. 

Error – ITR1 – Assessment Year 2020,

Error – Message:- “Deduction on annual value of house property should be 30% of annual value”

The above error means that the 30% of annual value calculated by the system from your Rent received Value – Property Tax paid to local authorities resulted in a decimal value. In my case, with the below data I wasn’t able to submit the data successfully,

The 30% of annual value for 180000 – 4213 = 175787*30/100 = 52736.1. The system round this number to 52736 and we receive the above error due to this Rs. 0.1 or the decimal value is rounded off.

To rectify and successfully submit the ITR1 I adopted the following strategy that is to ensure that the 30% of annual value is a whole number, hence I just changed the actual tax paid to local authorities to a lesser value of Rs. 4200 instead of Rs. 4213.

That means the 30 of the annual value for 180000-4200=17800*30/100=52740 and this works out be a perfect whole number with out any decimal value and we could complete the tax returns submission with out any errors.

I have filled the data in the Offline Java Utility and on the online Wizard in both the case I got the same error.

It looks like the IT department doesn’t even want to miss Rs. 0.1 then why round the numbers, why can’t they ceil the number to the nearest “one” value to make tax filing easier. This way always the number would be rounded or ceiled to the upper value by one decimal place. That is to the next rupee figure value, which is not a huge loss for individuals any ways... We can also get away from such unknown or unexplained thinking of some individuals in the IT Department to round of the figure and throw error while submission of the data.

I hope this helps those who face this issue while filing their tax returns to complete their returns filing smoothly.

#ITR1, #eFiling, #"deduction on annual value of house property should be 30% of annual value"

#"Karthikeyan Karuppanan"