Advance tax
This query is : Resolved
Sumit Rawat
(Querist)
26 August 2013
respected sir,
Please help me I am in trouble.
I paid a sum of rs 10,00000 to the government in the f.y 2011-12 as advance tax, but at that time I wrongly entered nature of payment as fees for professional whereas it should be under advance tax. Now the government has issued a demand notice of rs. 10,00,000. u/s 143 (1) now how can I solve this.
Please help me I am in trouble.
I paid a sum of rs 10,00000 to the government in the f.y 2011-12 as advance tax, but at that time I wrongly entered nature of payment as fees for professional whereas it should be under advance tax. Now the government has issued a demand notice of rs. 10,00,000. u/s 143 (1) now how can I solve this.
CA Mehta Ankur N.
(Expert)
26 August 2013
For that you have to do a rectification u/s 154 of income tax act 1961.
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