Kannan C J (Section Officer ) (34 Points)
24 May 2012We have interest on delayed deposit of Income tax and interest from the date of deposit to the date of processing through e filing by entering the entire amount under Interest column. Now the System has adjusted part of the amount towards interest on delayed deposit of income tax. But it has not taken the interest on the interest on late payment and default is generated for that amount. How to rectify this
CHINTANKUMAR PRAVINCHANDRA SHA
(proprietor)
(32 Points)
Replied 24 May 2012
Dear,
You can file revised return after making necessary changes in column that you want.
regards,
Chintan
KARANDEEP,CA,B.Com,CS FNL
(JOB)
(457 Points)
Replied 24 May 2012
Second option is that file a retification to AO.
Malay Goswami
(Practice)
(26 Points)
Replied 25 May 2012
It appears from your query that you have deposited both interest for delayed deposit as well as interest on interest. However while processing NSDL has not considered your payment for interest on interest and further raised default for that part. Also it appears that you have filed rectification return after paying both the interests.
If that be the situation, the only solution according to me to draw the attention of NSDL regarding this drawback of processing. Hope they will rectify this processing error as this is going to affect all who are paying interest on interest.
PRITY KUMARI
(SERVICE)
(22 Points)
Replied 29 May 2012
Please after amendment rectified order 143(1) on Income Tax website
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