please suggest me the next step what i have to do..after refer the following situation
an individual has a business income of Rs.2.5 lakhs and Rs.40,000/- from house property. he was filed a i.t. return after the due date U/s.139(4). yesterday he came to me and said that i have a interest income of Rs/-1.5 lakhs on which Rs.15000 TDS was deducted.
30 January 2014
since the belated return cannot be revised..just wait for the notice/intimation from cpc banglore u/s 143(1). once you have received the notice you can file correction return by quoting cpc order no.
b
If there is any additional tax liability..then there will be interest u/s 234..for saving interest you can pay additional liability now by preparing another self assessment tax challan.
I hope you got the point..
CAclubindia
