Clarification on 143 (1)

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This query is : Resolved

231288 (Querist)

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)

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

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231288

231288 (Querist)

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)

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

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