I had filed return for the year 2008-09, where as per the calculation, I was eligable to get refund,
The income tax depart has send the refund, along with notice
which say "this intimation is deemed to be a notice of demand under sec 156 in terms of sec 143(1) of income tax act 1961. The amount is required to be paid within 30 days of the services of intimation.
20 December 2012
First Check the intimation u/sec 143(1) & check the tax calculated by u & AO. As he caanot send the refund if you have tax liability it should be adjusted against your refund. And if such things happen go for the rectification u/sec 157. rectification is possible only when there is a prima facie mistake in the intimation.
senarion I have a property in mumbai and I am working in Chennai and I am staying in rented house in chennai.
I have a housing loan for the said property, The property is not rented.
My question is Can I get exemption for the principle and interest paid for the home loan and also can I get exemption for the HRA since I am staying in a rented house in different stat.
21 December 2012
As your job in Chennai, you did not own property at Chennai for the exemption of HRA. And you would also get the benefit of repayment of Interest & Principle amount of Mumbai house. The only thing is that you would get 2nd benefit if you paid all the installment. For HRA benefit you have to check out condition for exemption u/sec 10.
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