Demand u/s 154

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Shivalok Lochak (Querist)

09 April 2016 ITR 1 FILLED for AY 2014-15 WITH 340000 deduction us 80 c 1000000 .tds deducted 66000 of which 2470 showing 'O' status Income tax has raised demand of same amount which showing 'O' status. Please help what should I submit in reply to income tax

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

09 April 2016 First you have to contact you deductor that you have booked 2470/- as "OVERBOOKED" ask them Kindly do correction and rectify it so that my demand will be solved.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

10 April 2016 After getting corrected as said by Bhagat Ji, you have to file a rectification return u/s 154 and upon approval of the same the demand /refund will become zero .

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)

10 April 2016 Yes agreed, after rectification u/s 154 and acceptance of rectification your demand will be NIL.

Shivalok Lochak

Shivalok Lochak (Querist)

14 April 2016 Can ratification be filled without correcting the overbooked amount in tds.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

14 April 2016 No first correction need to be done by deductor after then you can do rectification u/s 154.

Shivalok Lochak

Shivalok Lochak (Querist)