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Rs 10 tax payable

Sheetal (nil) (174 Points)

28 April 2017

Suppose balance tax payable while filing itr we get Rs. 10. Should we pay tax?

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9 Replies

Santosh Tiwari (Article) (50 Points)
Replied 28 April 2017

If possible pay & close issue

1 Like

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himanshu gumber (45 Points)
Replied 28 April 2017

Increase any Expense to Clear the Rs 10 Tax

1 Like

CA Mayur Todmal (Practicing CA) (7756 Points)
Replied 28 April 2017

Yes , you should pay. If return is uploaded with tax payable , it will be treated as invalid return u/s 139(9)

2 Like

CA.Sourabh Sethia (CA (Practice)) (2574 Points)
Replied 29 April 2017

I think there is a provision like rounding of income there is provision of rounding off of taxes n under which this will be rounded off to 0 n your return would get processed there will be no issue as such

1 Like

SUNEEL KUMAR (Sr. Accounts & Finance Executive) (163 Points)
Replied 29 April 2017

if you have file the return then pay same amount & close your tax laibility

if tax payable showing before filling the return then increase your Expenses/Savings

Also you can revised your ITR.

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SUNEEL KUMAR (Sr. Accounts & Finance Executive) (163 Points)
Replied 29 April 2017

if you have file the return then pay same amount & close your tax laibility

if tax payable showing before filling the return then increase your Expenses/Savings

Also you can revised your ITR.

Praveen (Consultant) (151 Points)
Replied 29 April 2017

yes, you should pay

Prity Agarwal (CHARTERED ACCOUNTANT) (363 Points)
Replied 29 April 2017

The income should be rounded off to the nearest Rs.100.

So, once it is done then the tax payable of Rs10 will not arise.

Otherwise, increase any expenses by Rs.100, so that no tax liability arises.

1 Like

CA Aditya Lahoti (Chartered Accountant) (380 Points)
Replied 30 April 2017

Originally posted by : CA MAYUR TODMAL
	Yes , you should pay. If return is uploaded with tax payable , it will be treated as invalid return u/s 139(9)

as per Amendment in FA2016 - if return is uploaded with tax payble by not paying Self Assessment Tax (140A) it will not be treated as defective return u/s 139(9).

And about tax payable of Rs.10/- you will receive Intimation u/s 143(1) & it will be treated as demand notice if you don't respond it within 30 days.

Even than you don't pay the same, the refund in any next year would get adjusted with this demand and interest thereon.

So better as all said above, adjust some expenses & make tax payable as NIL(I would suggest you to pay tax of Rs.10/-).