Communication of proposed adjustment u/s 143(1)(a)

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If you've received a proposed adjustment notice under section 143(1)(a) of the Income Tax Act, it may cite arithmetical errors or inconsistencies in your tax return. This could relate to claims of set-off losses or amounts in specific schedules not matching the computed figures. If you believe your calculations are correct, it's important to address these points to resolve any discrepancies with the tax authorities.

vipul

vipul (Querist)
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16 February 2020 i got communication for proposed adjustment u/s 143(1)(a) that says Arithmetical error in the return u/s 143(1)(a)(i), but i checked the calculation is correct. and incorrect claim u/s 143(1)(a)(ii) Schedule part BTI "The claim of set off current year loss shown in part -BTI is not consistent with the loss computed in the schedules of the corresponding heads of income or the priority of set off the current year loss is not consistent with the provisions of the act" and schedule SI "the amount entered in schedule SI are inconsistent with the corresponding amounts entered in Sch CG/OS"
Please help me to resolve this.

swasti

swasti (Expert)
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21 February 2020 Same query has been received by a company with whom we are dealing. Request for the expert advices.

Eswar Reddy S

Eswar Reddy S (Expert)
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29 February 2020 That is due to "Incomes considered separately" which would have been deducted from net profit in tax computation and you would have considered it in the respective sources