Shweta Garg (CA FINAL Executive(Payables)) (147 Points)
12 April 2012
I have got a demand for arrears (Rs. 1.37 Lakhs) from the income tax
department for the assessment year 08-09. As per the income tax web site
records, I can see my IT returns filed and acknowledged by the department. I
do not know why there is a demand. Can you guide me as to how I should seek
clarification from the department ?
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 April 2012
Check 26AS. Check whether tax paid has been adjusted with the tax liability in that AY. Sometimes TDS paid do not get reflected in your IT returns which is why demand is raised.
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 April 2012
If 26AS shows TDS paid, and NIL tax liability payable, then you file rectification u/s 154. You can do so online also from their website incometaxefiling.gov.in
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 12 April 2012
it may be coz of some disallowances made by AO......So, you can do either of following:
1) Write a reply to AO seeking the reason for demand..
2)Personally attend his office either urself or through your representative.
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 April 2012
Is this for a pvt ltd co or for an individual assessee ?
Have you received assessment u/s 143(1) ?
If the demand has been raised, either you pay if the tax liability actually exists or ascertain whether they are mistaken.
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
individual assessee.
received an intimation u/s 245.
No tax liability exists.
now?
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 April 2012
It means IT dept adjusted your refund with your tax liability. The intimation will say which AY the tax liability belongs to.
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
Mihir
(Wealth Manager)
(5293 Points)
Replied 12 April 2012
Check IT returns of AY 2008-09 and its 26AS. TDS or some tax must have been paid. See what will be the tax liability if TDS or tax paid is not considered in intimation u/s 245.
For example:\
Tax liability - 230,000
Tax paid - 200,000
TDS paid - 30,000
If you remove TDS, then tax liability will show as 30,000.
So check if all TDS and tax has been considered in the IT return by them.
Shweta Garg
(CA FINAL Executive(Payables))
(147 Points)
Replied 12 April 2012
ITR of ay 2008-09 and 26AS is fine as per records. there is no such calculation or comparison is shown in the intimation. it shows the demand only.
Manish
(Chartered Accountant)
(23 Points)
Replied 12 April 2012
Intimation u/s 245 are issued to inform the taxpayers for the adjustment of refund pertaining to one year with the demand outstading for another year.
if there is no tax payable according to you and if there were no adjustments made by the Assessing Officer during assessment, if happened, then the common reason for such demand is non-granting credit for TDS by the tax office. In such circumstances, please follow the following steps:
1. Please check if any intimation is sent by the tax office for the return processed. If yes, please verify the TDS cerdit given with the TDS claimed by you in the return.
2. Please also check the form AS 26 and verify the TDS credit.
3. If TDS credit is not given either partly or fully, please write a letter to the assessing officer with the copies of the TDS certificates.
Please let me know in case you require any further clarification.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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