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CPC Notice Regarding
An Income tax Assessee,a Trust, received communication from CPC Regarding proposed adjustment u/s 143(1)(a) of the income tax Act 1961 to respond within 30 days of issue of Intimation.The assessee said it will not respond to the Notice .Further said whatever the adjustment proposed u/s 143(1)(a) by the CPC,it is ready to accept whether net result of adjustment is a tax demand or refund.Please advise, whether asseess's decision is correct or it has to reply.Your Guidance will be very useful.
Replies (5)
What for there is a demand explain clearly.
The assessee must be response to the department
I find no fault with assessee trusts response.. when it's ready to pay tax even if tax demand arises
Assessee,Trust had paid corpus Donation to a Trust during this year A Y 2019-20 (31-03-2019) which is not application of income under explanation 2 Section 11(2). Hence the Assessee has to pay tax thereon.Please kindly let me know whether any response to be filed for the intimation.If we failed to reply what will be the consequences.
Reaponse is reqd only if assessee is disagreeing with the adjustment...else there will be auto adjustment and assessee will pay / receive net amt
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