Dear Sir,

Assessee have recd the intimation u/s 143(1) for AY 2010-11 in which ITO have wrongly calculated Income from Capital Gains twice. And because of which IT has raised demand.

Exact Problem:
Assessee in his original return in sch Cap Gain have stated that STCG other than 111A is X amount

And on other hand in Sch Income chargeable at special rate assessee have shown same STCG u/s 111A as X amount.

The fact was that STCG was of 111A taxable @15%. Mistake was in Sch CG.

Because of above mistake IT calculated twice and raised demand.

Assessee has filed rectification u/s 154 by correcting above schedule of CG, but that rectification request is rejected.

Please tell us what is the recourse now, can asssessee file rectification request again or he has to go for appeal.

please reply.
Thanks in Advance.
Rohan

I am Akhil. I had completed my graduation from andhra university with 76%. Can i join articleship after my graduation(b.com)? Does the preference given change between a graduate and a student who cleared ipcc? And will there be any changes in work exposure or stipend??
Expecting a reply soon.
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