Demand u/s 143(1)

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Avnish Gupta (Querist)
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27 September 2009 I,being an individual and a female of 42 yrs. have received a notice u/s 143(1) whereby the returned income & assessed income have been shown as 206000, as against my ITR-2 filed on 10/11/2008 for A/Y 2008-09 having Gross Total Income of 195000/- and claiming Deductions U/s 80C as Rs. 37,000 & u/s 80D as Rs.9,000.

Rs. 1,95,000/- constitutes of Rs. 1,28,600 as Salary, Rs. 8,500/- as Interest Income and Rs. 57,900/- as Short Term Capital Gains U/S 111A. The demand has been raised for Rs. 6,100/- along with Interest U/S 234A/B/C of Rs. 1,350/-.

How should I proceed to get 143(1) revised for Correcting Returned Income as Rs. 195000/- and also getting deduction U/S 80C & 80D of Rs. 46,000/- whereby my Taxable Income would be Rs. 149000/- on which I have already paid tax of Rs. 400/- on 10/11/2008.

Pls. advise what could be the remedial procedure.CanI move application u/s 154 against intimation u/s 143(1). The notice has been served on 25/09/2009 as against order date of 25/05/2009.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 September 2009 If u are sure about the income and tax computed by u is correct and the AO made a mistake in the intimation send u/s 143(1), pl move a rectification application u/s 154 before the AO. The time limit to move the said application is 4 years from the end of the financial year in which the order sought to be amended was passed.

Ankur Garg

Ankur Garg (Expert)
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27 September 2009 Agree

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