A domestic company made non domestic by the system

This query is : Resolved

Tikam (Querist)
Follow

08 December 2011 Friends,

We have filed the return of income for the assessment year 2009-10 without mentioning Domestic/Non Domestic Company ie status was not filled in the return. Our processing of return of income u/s 143(1) was completed as Non Domestic company by the system and charged Income Tax @ 40%. Our Assessment was also completed u/s 143(3) as a Non Domestic company although our company is a domestic company since the date of incorporation ie 19.03.1983. Our previous Assesments were completed as Domestic company. The Income tax is payable @ 30% as Domestic and 40% on Non Domestic. Please advice the action to be taken by us for correction of this error and where the mail/correspondance to be made.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

09 December 2011 Sinc you have filed incorrect information in the Income Tax Return, the assessment has been made at a higher rate.

This can be corrected by filing a rectification return. The same will have to be filed online.

For details & process for filing rectification return, go through this file:

https://www.caclubindia.com/share_files/details.asp?mod_id=42744

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now