Income tax procedures

304 views 1 replies

Hi

Ram has filled his return from the year 11-12 and he has professional income as a lawyer.

when he loged in recently he saw in the pending actions demand of Rs1052 in the year 07-08 and the demand was send by 09-10 covered by the section 143(1).

Now what should he do

1) Do nothing as the demand has become time barred

2) Reply to the demand and accept the demand.

Ram is ready to pay 1052 but does not want any issues for further years where hhe did not file the return and there where good amount of transactions in his account....

Kindly suggest Ram..

Replies (1)

You have to reply to the demand as accept if he thinks its genuine and is ready to pay. Now when ever a tax refund is determined this amount will be adjusted If you want to get this done asap, for this year return, pay this much extra and it will get adjusted when assessment is complete


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