INTIMATION U/S. 143(1): difference in total income

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Hello experts.

I have received an "INCOME TAX INTIMATION U/S. 143(1)" order letter. In a comparative form, it has information about the computation of income "As Provided by Taxpayer in Return of Income" and "As Computed Under Section 143(1)."

There is only one difference. It shows that the "total income after deductions" "As Computed Under Section 143(1)" is Rs.5 (five rupees) more than the original amount in Return of Income.

I used the appropriate MS Excel file available from the IT website to prepare the Return. Also received acknowledgement receipt of ITR-V through e-mail. Can't understand how they calculated this amount.

By the way, there is no tax payable neither any amount refundable.

Would you kindly advice what should I do from my side?

Thanks in advance.

Replies (5)

Dear Ashis,

   It is well known that as per sec. 288A the amount of total income computed in accordance with the provisions of Income Tax  Act, 1961 shall be rounded off to the nearest multiple of ten rupees. As returned Total Income is less than the total income computed u/s 143(1) by Rs. 5, it may be for the reason that department has rounded off the Total Income.

However, If this is a practical  question  I would like to say that you should not bother about the intimation of 143(1) as it is not a assessment and also you are not required to pay any tax for the increased amount of tatal income. AO may issue notice of sec 143(2) for regular assessment u/s 143(3).

NO NEED TO DO ANYTHING... IGNORE SUCH NOMINAL DIFFERENCE...

Thank you.

 

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thnk u sir now i got it.......:-)

 


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