nagarjuna (Practice) (137 Points)
02 August 2017Hi,
I received a notice under 143(1)(a) for Rs.90k out of which I have Investment Proofs / Evidences for 50K and for other 40K I do not have Evidences.
In such situation, what shall I do?
Agree with demand / Disagree with demand?
What sort of explanation can we provide?
CA Gyati Gupta
(In Practice)
(8427 Points)
Replied 02 August 2017
Dear Nagarjuna,
To claim deduction U/s 80C, you should have proper evidences. In case, u are not handy with the proofs, you should agree with the demand.
Srinivas Reddy Kundur
(P)
(97 Points)
Replied 02 August 2017
nagarjuna
(Practice)
(137 Points)
Replied 02 August 2017
I have evidences for 50% of amount and for balance 50% I do not have evidences.
What should I do?
I have only 2 options - either Agree / disagree with demand
If I agree, i will loose the amount which I have evidences also and
if I Disagree, I am not able to show evidences for balance 50% of amount which I dont have evidences.
Please guide.
Kiran. S
(CTO)
(745 Points)
Replied 02 August 2017
You have received notice for Rs 90K what? You must have already filled 80C.
Do you have TDS to your credit ? is it seen on ur 26AS?
Please clarify as to what Notice you have received . 90K demand or proof for 80C investment.
Srinivas Reddy Kundur
(P)
(97 Points)
Replied 02 August 2017
nagarjuna
(Practice)
(137 Points)
Replied 02 August 2017
Suppose I made an Investment of Rs.50000.
I declared investment of only Rs.20000 in form 16.
In my return I have filed stating Rs.90000 as Investment in 80C.
I received notice for Rs.70000 difference between Form 16 and Return filed.
Now how to reply for Notice u/s 143(1)(a)?
CAclubindia
