Clarification on 143 (1)

This query is : Resolved

231288 (Querist)
Follow

10 November 2014 Hello, I had efiled for my return and i received intimation 143(1) today , There is a mismatch in the refund i requested and the refund Income tax dept has calculated. The difference is due to interest on the refund amount. I.e they have added some 170 rupees in my refund. So should i file for correction as there is a difference in amount claimed and amount calculated? or is it ok if my claim is less than the refund calculated by Income tax dept.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

10 November 2014 congratulations! you have earned some income from income tax dept. (There is a specific provision to PAY interest by the income tax dept on refund) SO Njoy

Message likes : 1 times

231288

231288 (Querist)
Follow

10 November 2014 Thank you for the reply; i had a query that if what i had claimed is different from calculation of it dept as in above case, do i need to rectify somethng? my claim was for Rs 3930. they are giving 4070

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

10 November 2014 the intimation u/s 143(1) specifies the amount of interest paid by the income tax department. Just reconcile the same.

Message likes : 1 times

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SUMAN SAHA

Pritanu Chakraborty

Michael & Co.

Ashif Cheenikkal

Mukesh Singh

Subscribe Now

Clarification on 143 (1)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA