Regarding assessment order

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Dear Sir,

I have some doubt with regard to assessment order passed by AO. Total tax liability of my client was 2,50,000/- however TDS claimed was 3,12,000/-

Under computation form given along with assessment order ; they have shown detail computation and tax liability of Rs.2,50,000/- and under tax paid they shown 2,50,000/- accordingly demand shown as NIL. Is it correct? Is they required to show 3,12,000/- and mention balance as refund.

Please clarify about the doubt. It may be because assessment & refund proceeding are separate.

Ravikant

Ravikant (Expert)
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01 January 2012 assessment and refund proceeding are not seperate,, there may be an error in assessment order, check out with your A.O., or submit a rectification request

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Dear Mr. Ravi

I do not agree with regard to assessment and refund proceeding.

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2012 First you have to check online Form No 26AS of the assessee. It is possible that form 26AS may be showing credit for Rs 250000/ only and the balance 62000 credit might have not been shown.
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After getting it rectified from the deductor you may file a rectification request.
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Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Dear Paras Sir,

Doubt is whether the computation sheet will show refund or not. My 26AS is showing full credit which i have claimed.

Please tell what i need to do to correct computation sheet which has been received along with assessment order.

Please help me out.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2012 If TDS amount has not correctly shown, as you have said, file a request for rectification. The department /CPC will rectify its mistake.
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While uploading the XML file check carefully whether the necessary corrections, if any required, have been properly made at your end.
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Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Will it be recitied through rectification?

Is it serious issue?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2012 It is the matter involving Rs 62000/-.

It depends financial capacity of a person and how he takes if loses Rs. 62000/-?

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It can be rectified only through rectification procedure.

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Ravikant

Ravikant (Expert)
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01 January 2012 agree with parasji