How the demand u/s 139AAA is being calculated by the Income Tax Department in the case of inoperative PAN.
One of my friends have total taxable income at Rs. 5,69,590/- in F.Y. 2023-24 and his PAN was not linked with Aadhar. The DDO has failed to deduct the tax on higher rate as required by the section 139AA. Now he intimated the demand of Rs. 88,918/- on his taxable income of Rs. 5,69,590/-.
We are not able to understand that how the above demand was calculated by the Income Tax Department.
Could anyone please guide on the manner of calculation of above demand.
Thanks
CAclubindia
