139(4) very urgent...

This query is : Resolved

CA Sankalp Patwa (Querist)
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28 March 2013 One of my friend has filed a wrong belated return under section 139(4). Mistake is because of wrong calculation of interest by the utility we download from the incometaxindiaefiling site. Details are as follows:-

Assessee : AOP

Tax Liability :- 100208 (inclusive of education cess)

Interest 234A :- 154

Interest 234B :- 18576

Interest 234C :- 79

TDS : 97973

Self Assessment Tax :- 21050 (paid because of wrong calculation)

Due date of filing of return :- 31/07/2012

Date on which return filed :- 26/03/2013

After filing the return he came to know about this mistake in calculation of Interest u/s 234B (correctly it is 110 only). Now this return cannot even be revised as it is belated .....

Is there any possible action or remedy in these circumstances ?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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28 March 2013 I think at the time of processing of return CPC will recalculate your tax liability and compare with the total taxes paid by you if you paid short then raises demand if you paid excess than required then allows you refund.
So wait till the completion of process by CPC and receipt of 143(1) intimation according to such intimation is CPC allowed you refund and send it then okay otherwise after receipt of 143(1) intimation file 154(1) rectification return and compute actual tax liability along with interest and claim refund of such excess paid amount through such rectification return.

But one thing is you filled the bank details at the time of filling of return on 26-3-2013.

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