Income tax payable u/s 143(1)

This query is : Resolved

MOHD AFROZ (Querist)
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26 April 2013 The AO has computed income under Section 143(1) and found less tax paid by Assessee under section 140A. The Assessee has paid Tax and Interest demanded u/s 143(1)through internet.The Assessee is Individual.

My Query is:
After the payment of interest and tax, return need to revise or there is no other requirement because demanded amount u/s 143(1) has been already paid.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 April 2013 No need to revise the return of income.

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V K Bajaj

V K Bajaj (Expert)
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27 April 2013 Mr Afroz!

Please have a sound sleep and enjoy life in the manner you want to enjoy. The System will do it all once you have deposited the Tax into Govt. account.

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MOHD AFROZ

MOHD AFROZ (Querist)
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29 April 2013 Thank you for the valuable suggestions.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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10 June 2013 The demand cannot be u/s 140A it is to be u/s 156. When the provisions of Section 140A is attracted it means you have not paid the tax liability which was as per the return filed by you. You may be charged with penalty u/s 140A and the minimum or maximum [penalty has not been specified in the act. Other wise the assessment order is in your favour and you can be assured that your return has been accepted.

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