Demand u/s 154
This query is : Open
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
(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.
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 .
Message likes :
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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
(Querist)
14 April 2016
Can ratification be filled without correcting the overbooked amount in tds.
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
(Querist)
15 April 2016
If I only claim tds which showing F status then can I rectify my return
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