Income tax payable u/s 143(1)
This query is : Resolved
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.
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.
26 April 2013
No need to revise the return of income.
Message likes :
1 times
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.
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.
Message likes :
1 times
29 April 2013
Thank you for the valuable suggestions.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- RELATED TO TRIBUNAL APPEAL
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- LIC maturity claim whether taxable
- Sec 44ada applicable only or both
- Compulsory aqisation of Agriculture & Non Agriculture land are taxable or not ?
- TDS AND ITR ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
