18 October 2013
Asst.Year: 2010-11:- TDS amounting to Rs. 495000/- ,by mistakely, claimed as TCS of Rs. 495000/-. Infact , there was no TCS.We claimed a refund of Rs 4,00,000/-Approx.
While processing the ROI, since there was no TDS claimed by us , the CPC has raised a Demand of Rs 1,20,000/- by processing the ROI.
Subsequently, For Asst.Year 2011-12, there was a refund of Rs 230000/-. CPC has after adjusting the demand of Rs. 120000/- of Asst.Year 2010-11, released balance of Rs 110000/-.
Can any body clarify how to make rectification U/s 154 ? For Asst.Year 2010-11 alone? or For Both the years 2010-11 and 2011-12?
CAclubindia
