How to best handle after receiving 143(2) in case of excess deductions claimed to avoid penalty
This query is : Resolved
20 June 2024
How to best handle after receiving 143(2) in case of excess deductions claimed to avoid penalty. Please let me know. Thanks.
Do I need to submit an affidavit accepting the error..
Do I need to submit an affidavit accepting the error..
20 June 2024
No. No need to file any affidavit. Submit required document, with request to revise the return. The return will be reassessed with any additional tax with just interest over it.
20 June 2024
Thanks. Do they enable the portal for revised return after the request as it is closed for AY 23-24 (FY 22-23) or is it ITR(U)?
20 June 2024
As such there were cases when the revised return was accepted if filed within specified time (it was 2 years then) even after issue of 143(2) notice, but the same is blocked for updated return. So, hope they allow you to file under sec. 142(1) IT act.
20 June 2024
Thanks Will request other experts to share their views as well who might have seen this scenario recently.
30 August 2024
Good luck.
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