Incorrect Pan in Return
This query is : Resolved
01 March 2011
Dear Sir,
we have filed return of py 07-08, in which PAN No. was wrongly mentioned, and it was just a typographical error. now we have received letter from ITO in this regard. my question is penalty is mandatory in this case? does any authority entitled to cancel the levy of penalty? and what procedure to follow?
Kindly Reply
Thanx
we have filed return of py 07-08, in which PAN No. was wrongly mentioned, and it was just a typographical error. now we have received letter from ITO in this regard. my question is penalty is mandatory in this case? does any authority entitled to cancel the levy of penalty? and what procedure to follow?
Kindly Reply
Thanx
01 March 2011
Seems it is a notice u/s 272B of the Income tax Act,1961. You may file a reply stating the inadvertent mistake. If the officer is satisfied with your reply he / she himself /herself can drop the proposed proceedings under section 273B of the above said act.
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