Interest on rectified ieterest
This query is : Resolved
sheetal panchal
(Querist)
30 July 2013
I made mistake last year while filing return that I forgot to mention tax paid detail in itr form so department issued demand of tax, now I m rectifying return but tax amount increased by 240 rs, now my question is it mandatory to pay the increased amount.
CMA Ramesh Krishnan
(Expert)
31 July 2013
Yes. check the reason for increase and pay the tax
02 August 2013
This increase is shown as you have not shown the tax paid and the interest has been calculated either u/s 234B or 234C. Once you file your revise return this may be reduced and if the calculations are correct then first pay the balance and then file the revised return otherwise the balance which is not paid will be shown as outstanding.
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