I have recieved notice from IT u/s. 143 (1) towards differeance of tax to be payable for FY 2007-08 - AY 200809. Basically in the calculation they have not reduced the amount exempted under section10. So, i have replied them thru ordinary post by giving them the detailed computation of income and tax.
Will this create any problem.
You are required to make an application under sec. 154 for Rectification of Mistake apparent on record, detailing out the mistake committed in the intimation u/s. 143(1).
It is advisable to submit it by hand delivery so as to enable you to have the proof of having made the application and furnished it to the concerned ITO.
It would also be advisable to meet the ITO and discuss the issue for early redressal
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