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Intimation u/s 143(1)

padmalatha (Employee) (24 Points)

28 August 2014

Hi Members,

I have received an intimation U/s 143(1) of the Income tax act, asking me to pay for balance tax, which I had not seen original, now they have sent me a reminder, however there is no tax payable but the Income from Salary has wrongly considered while filing my original return. This is for Assessment year 2013-14.

Please provide me a solution.

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5 Replies

C.Vadan (Audit & Tax Manager) (26 Points)
Replied 28 August 2014

143(1) order pass as per your income tax return file...if any difference between Order and return than you can file rectification return. Other wise you are liable to pay tax.

Ajay (CA Job) (512 Points)
Replied 28 August 2014

Dear Padmalata

I think you can file a revised return under Sec.139(5) on or before 31.03.2015 giving your correct Salary Amount. But pls wait for more opinions.

Reagrds

Ajay

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 29 August 2014

Once the order is passed you cannot revise your return. You should go for rectification if you have apparent document explaing your income to be non taxable else have to appeal

Ajay (CA Job) (512 Points)
Replied 29 August 2014

Dear Goutam

U/s 143(1), the authority issues an "intimation" and not an "order". And revised return can be filed anytime before an assessment is made. So this "intimation" u/s 143(1) does not technically count as "assessment"/"assessment order".

I am not sure if any other practical difficulty exists, that's why I asked to wait for more opinions.

Regards

Ajay