Income tax

This query is : Resolved

Sopan Dattatray Pingale (Querist)
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11 September 2014 Sir Please solve my query

1] One My Client filled the IT return of F.Y 12-13 dated 01/01/14 no deposited interest on late fee return.

2] F.Y 12-13 Refund claim Rs.14940/-

3]Received Intimation as return total tax amt. as per client Tax Payable rs.164314 & Refund Rs.14940/-

4] As per IT Dept.Total Tax Rs.149373+ Int-39863=189235/-

5]As per Intimation Net tax payable Rs.189235/- please suggest me how many rs.balance tax payable for F.Y 12-13

6]My Client Filled Return F.Y 13-14 dated 29/08/14 before due date Refund 56000/-

please suggest to me how many rs tax previous year & we can adjusted in refund F.Y 13-14.

Please reply

ALOK GOEL

ALOK GOEL (Expert)
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11 September 2014 You need to follow following steps :

1. You calculate again the net tax payable by your client on the his total Income.

2. Also Add intrest accordingly if notice period is expired.

3. Submit these details by Post to AO along with Form -16 , challan of advance tax etc. if any deposited.

4. If time to intimation lapsed then it is also suggested to meet AO along with the details mentioned above.

AO will determine 12-13 IT return as per your calculations over and above their assessed value before sending final refund or demand notice against your claimed refund.

The FY 13-14 IT return will be determined separately . It is likely that AO may send you final refund after determining all dues of FY 12-13 with FY 13-14 refund .