17 April 2010
I recieved an intimation letter from Income tax department charging for late file return on 17/04/2010. I am a salaried person working in a company. Employer deducts tax at source(TDS). During 2007-2008 I had filed return on 07/10/2008 while due date was 31/07/2008. Letter mentioned following interests- 234a- 7000, 234b-60000 and 234c 9000. I am shocked. Do I need to pay all these?
17 April 2010
It is wrong. If Tax paybale on your salary income is deducted by comapny and deposit the same i.e there is no due of tax payable. then Interest u/s 234A/B/C can't be imposed on you becasue interest u/s 234A/B/C is calcualted on Net tax payable after dedcution of advance tax & TDS , which is nil in your case. Please go to Income tax and contact with your assessing office for this.
17 April 2010
Whether you have paid any self assessement tax. If you have paid self assessement tax in lieu of short tds then you are liable to pay the interest.
If you have not paid any self assessement taxes and entire tax is from tds then question of 234A or 234 B or 234C will not come into existence, chargeability itself is wrong.
Find out the correct details from your return and then find in which method you are falling and then take appropriate action.
Could you please tell me the rectification procedure.I talked to their customer care, they told they dont not entertain any letters, Dont send any forms-16 etc.
CAclubindia
