Order u/s 143(3)
This query is : Resolved
02 January 2019
While passing an order u/s 143(3), if AO commits mistake of not setting off LTCL wd LTCG both occurring in the yr under scrutiny, and totally ignores LTCL and taxes LTCG . Also miscalculates tax and interest to be paid in tax calculations . Can such order be rectified by AO ? Or asseesse has only option of filling the appeal against such order?
03 January 2019
Yes it can be rectified under section 154. File rectification under section 154.
03 January 2019
If the income tax computations made by AO are incorrect under Sec 143(3) and the proceedings are not closed by the AO, then you just need to respond in the following manner:
1.Collect all the details of IT computation which you would have computed while calculating it earlier.
2. Prepare a covering letter and indicate all the annexures attached with the reply letter.
3. If any of your income tax dues are pending with the income tax department, you can also mention it in the covering letter.
4.Submit the file to the Assessing officer. Remember to keep its copies before submitting.Take the acknowledgement copy from the Assessing officer for your own records.
If Proceedings are closed by AO then you have to apply for Appeal within 30 days.
1.Collect all the details of IT computation which you would have computed while calculating it earlier.
2. Prepare a covering letter and indicate all the annexures attached with the reply letter.
3. If any of your income tax dues are pending with the income tax department, you can also mention it in the covering letter.
4.Submit the file to the Assessing officer. Remember to keep its copies before submitting.Take the acknowledgement copy from the Assessing officer for your own records.
If Proceedings are closed by AO then you have to apply for Appeal within 30 days.
03 January 2019
154 rectification can be filed even proceedings are closed as these are mistakes apparent on the record.
4 years time limit is there.
4 years time limit is there.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST Regis.
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
