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Discussion > Income Tax > Notification >

Intimation under s/143 (1) of it acts 1961

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sao

[ Scorecard : 25]
Posted On 01 May 2012 at 19:48 Report Abuse

I am a central Govt servant and have received a notification for AY -2010-11 in Apr 2012. As per Form 16, my Tax amout comes to Rs 2,76,935 (Rs 2,68,869 + Rs 8,066 (Edn Cess)). The same was cut by my employer and is reflected in Form 16 as well as Form 26AS too. However the intimation notice states the tax amount as 2,85,411 +8562 (Edn Cess). A demand of Rs 21,580 has been raised including interest under S/234A (Rs 3,910) and 234 B (Rs 629) I do not know how this amount has been generated.

However on deeper study, i found that  the difference in tax amount before edn cess comes to Rs 16,542 ( Rs 2,85,411- Rs 2,68,869). Since I am in 30 % tax bracket, i calculated the income on which this tax was calculated; and hence I divided this amount by 30 % and got the figure of Rs 55140/- which is incidently the amount I showed as Loss from House Property (Int on loan paid to the bank as well as loan taken from my father). This amount is also reflected in Form 16 since there is provision in my organization to declare income and losses other than salaries and the same gets reflected in Form 16.

What should I do.?   Secondly this intimation does not state anything with reagrd to how to give reply/or contest or how to deposit tax etc.



CA Ankit Totla
Practicing Chartered Accountant

[ Scorecard : 430]
Posted On 01 May 2012 at 23:15

Praveen, really impressive work in understanding the mistake. Advised to file rectification u/s 154 as this is an mistake apparent from record.

But before that kindly recheck if the ITR form was filled appropriately.



Total thanks : 1 times



Praveen
sao

[ Scorecard : 25]
Posted On 02 May 2012 at 19:14

thnx for reply, Ankit. But my return was filled up correctly clearing showing the amount under Loss from House Property. So could you guide me:-

(a) Can I reply to this intimation explaining the poistion. If yes how and to whom. I am in Bangalore and went to IT Office here, but was told nothing could be done since the intimation came from Delhi.

(b)  Secondly, is it required to file rectrification under S/154 if action (a) is acceptable. If not, how this rectification is filed. Since earlier return was filed through my head office in Delhi.


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