I have filed my IT returns online for the AY2011-12. I had 2 form 16's due to change of employer and as I didn't submit form 12b to my new employer, I had tax liabilities and I paid the same as self assessment tax before filing returns. But while doing this, I forgot to calculate the interest and I received an INTIMATION U/S 143(1) email from IT department for the interest to be paid. I paid the interest online and it is also reflected in form26AS, but I did not file a revised return/rectification request until this day. When I checked the CPC Processing status in incometaxefiling website,it displays a message “e-Return has been processed at CPC - demand determined (tax is payable)” Please let me know what I am supposed to do.
Do I need to file revised returns or rectification? If so please specify the section under which I need to file this. When I spoke with one of the Integrated Enterprises associate, she says I don't need to do anything for this as I have paid my interest, but I am not sure how to rectify the above mentioned message in CPC site.
18 July 2012
Thank you sir for your message. But I saw a contradictory message in "Rectification-Common Errors" guide which has a line that states "Assessees having paid demand are filing for rectification to get a nil demand rectification order. This is NOT NECESSARY." Shall I go ahead and upload my updated XML file for rectification. Other thing that I want to ask is while preparing the excel sheet for rectification, after entering all my TDS, Self Assesment Taxes paid details, do I still need to press the "calculate tax" button in the excel utility. As my return is for 2011-12 and if I enter today's date as return filing date, my interest liability comes to a huge amount. So please let me know which date I should enter in the excel utility before generating the XML.
CAclubindia
