Suraj (819 Points)
09 August 2015Dear All,
There was outstanding demand of Rs. 2500/- for AY 2012-13 shown on income tax site under dashboard, which was paid by the assessee. However now it shows new demand u/s 220(2) of Rs. 425/- uploaded by CPC.
I wish to know how to pay this demand, which challan, whether under interest or penalty, under which minor head - 400?
Kindly guide.
Regards,
Suraj
Z
( )
(2965 Points)
Replied 09 August 2015
Its simple interest @ 1% p.m and has to be paid via challan 280 under 400 [Regular Assessment]
S.220(2) If the amount specified in any notice of demand under section 156 is not paid within the period limited under sub-section (1), the assessee shall be liable to pay simple interest at one per cent for every month or part of a month comprised in the period commencing from the day immediately following the end of the period mentioned in sub-section (1) and ending with the day on which the amount is paid
Suraj
(819 Points)
Replied 09 August 2015
Thank You Mr Z ╭∩╮（︶-︶）╭∩╮
But at payment gateway of the bank, where to show interest or penalty? Its penal interest right....?
Regards,
Suraj
Z
( )
(2965 Points)
Replied 09 August 2015
Ravi Jog
(MBA)
(21 Points)
Replied 13 August 2015
I received a CPC demand for AY 2004-05 under 220(2) and I paid it in Cash using INS Form 280, Under 400 and showing Interest.
After how many days I should see that demand has been nullified in IT/CPC records.
CAclubindia
