HI PROFESSIONAL COLLEAGUES
IN ONE OF MY CLIENTS CASE I HAVE A DOUBT REGARDING PAYMENT OF INCOME TAX. FOR THE A.Y.2009-10 SCRUTINY PROCEEDINGS COMPLETED. AT THE TIME OF FILING THE RETURN OF INCOME FOR A.Y.2009-10 LOSS CLAIMED WAS RS.128000/-. DURING THE SCRUTINY PROCEEDINGS THE ASSESSING OFFICER DISALLOWED SOME EXPENDITURE AND MAKE AN ADDITION OF RS.84000/-. SO FOR THE A.Y.2009-10 THERE IS NO ISSUE WITH REGARD TO TAX. BUT FOR THE A.Y.2010-11 THE LOSS OF RS.128000/- WAS CLAIMED FROM THE TAXABLE INCOME AND ON BALANCE INCOME TAX WAS PAID AGAINST THE TDS RECEIVABLE AMOUNT OF RS.120000/- AND CLAIMED REFUND OF RS.74000/-. THE REFUND CLAIMED WAS RECEIVED BY THE CLIENT IN THE MONTH OF APRIL 2011.
NOW THE ISSUE IS THAT THE AO IS ASKING TO REVISE THE RETURN FOR THE AY:2010-11. IF THE RETURN IS TO BE REVISED THEN IN SUCH A CASE LOSS TO BE SET OFF AGAINST THE TAXABLE INCOME IS RS.44000/-(128000-84000). CLIENT HAS TO PAY TAX ON DECLARED INCOME WHICH IS RS.152871 PLUS RS.84000/-(ADDITION MADE IN AY:2009-10) FOR THE AY:2010-11. IF TAX IS TO BE PAID THEN IN SUCH A CASE FROM WHICH DATE INTEREST IS TO BE CALCULATED AND UPTO WHAT DATE AND ON WHICH AMOUNT TAX IS TO BE CALCULATED.
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