INcome tax intimation u/s 143(1) from CPC banglore

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Vijay Parmar (Querist)
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21 July 2010 hello sir

i have received intimation u/s 143(1) of ITR-4 of individual..

in the return they have disallowed depreciation and demanded tax rs. 81408/-.

i have not added /back depreciation in income tax return. hence they have demanded the tax.. so what should i do????

help? reply

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 July 2010 You will have to file Rectification of Intimation U/s 154 of the Income Tax Act, 1961.

Format:---

Date:

To
The I.T.O Ward-...,
..............
..............
...............

Dear Sir,

Ref: - Your Intimation U/s 143 (1) dated: ........ for the A.Y ........, Received on ........ (PAN ..........)

Sub: - Rectification of Intimation U/s 154 of the Income Tax Act, 1961.

I have received your above mentioned intimation U/s 143(1) of the Income Tax Act which is showing a demand of Income Tax of Rs. ....../-

In this connection i want to bring in to your kind notice that....................................................................................................
............................................................................................................................................................
............................................................................................................................................................
............

I therefore request you to please rectify your above mentioned intimation U/s 154 and issue a rectification order to that effect at the earliest.

Thanks you,

Yours faithfully,

..........

Vijay Parmar

Vijay Parmar (Querist)
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21 July 2010 hello sir,

i have received notice from banglore. not from income tax ward...

so i have to send this letter to income tax ward ?? or banglore CPC ????

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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21 July 2010 Either rectification may be moved before CPC,Bangalore ,as rightly said by Sanjay Ji, if you are sure that you are eligible for depreciation as per section 32, OR YOU MAY FILE AN APPEAL BEFORE THE JURISDICTIONAL CIT(APPEALS).

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 July 2010 To Banglore CPC.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 July 2010 Check the notes on Last page of 143(1) its all mentioned there.