Instead of paying Advance Tax, by mistake the company has paid self assessment tax for the previous year. The amount has credited to the IT dept. What will be the solution, Should the company again pay the Advance tax?
Somaas Kandan (CA Final) (385 Points)
16 December 2010Instead of paying Advance Tax, by mistake the company has paid self assessment tax for the previous year. The amount has credited to the IT dept. What will be the solution, Should the company again pay the Advance tax?
Ankit Agarwalla
(CA)
(281 Points)
Replied 16 December 2010
write a letter to the ITO stating the mistake & give all details therein. Get a copy received by the ITO. Now file the Return as per order taking the credit of tax deposited as advance tax.
However this are my personal views, i had done the same thing when I had mentioned wrong assessment year while depositing advance tax.
Hope this would help.
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