Intimation U/s 143 (1)
This query is : Resolved
31 August 2010
I filed my return for AY2008-09 online on my own using ITR-2. Now I have received intimation under section 143(1) to pay additional tax. I am not sure what is the basis of this. However, when I went through the return all over again it looks to me that I have wrongly mentioned the short term gain from equity against A6 of schedule-CG instead of mentioning it against A5 (under section-111A). So they might have calculated 30% for this instead of 10%. I am not sure on it, but that seems to be the mistake. I have three questions...
1) If there is any such mistake happened in original return, is it possible to correct it in response to this intimation? How to do it?
2) The intimation is dated 8th March, but seems to have posted on 12th June. But I received it only on 30th August. The intimation says I need to respond within 30days. Is there any issue if I reply to the notification this late?
3) Should I go through a CA or can I do it on my own?
-Rajesh.
1) If there is any such mistake happened in original return, is it possible to correct it in response to this intimation? How to do it?
2) The intimation is dated 8th March, but seems to have posted on 12th June. But I received it only on 30th August. The intimation says I need to respond within 30days. Is there any issue if I reply to the notification this late?
3) Should I go through a CA or can I do it on my own?
-Rajesh.
31 August 2010
Just to add to his:
I received the intimation from Chennai Circle. The return was filed online but the verification/acknowledgement for was signed and submitted to Chennai IT office.
I received the intimation from Chennai Circle. The return was filed online but the verification/acknowledgement for was signed and submitted to Chennai IT office.
31 August 2010
Also, in the intimation letter, my flat number was wrongly mentioned in the address. May be that is why I received it late.
01 September 2010
If any one received intimation under section 143(1)and you are not satisfied with demand/ notice , then you have only one option to go for rectification of Mistake U/S 154 and you have to satisfied in response to the notice within 30 days FROM THE DATE OF RECEIPT of notice.
It is Advisable to go to CA for the above purpose.
It is Advisable to go to CA for the above purpose.
02 September 2010
Since the 30 days period is over after intimation, I am advised to go for an appeal. How long it will take to resolve on appeal and how much it would cost including CA fees?
07 September 2010
I think you should file rectification petition with assessing officer along with an application for condonation of delay..citing reasons for delay.........hope AO will consider your case
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07 September 2010
Normally 30days time is allowed if there is any demand and if you make any delay then only interest is charged afterwards , so I think you can go for rectification.
as the your case is small, it will be done at reasonable charges by CA.
as the your case is small, it will be done at reasonable charges by CA.
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