Interest under section 220(2) of income tax act, 1961
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2017
Hello
My client received a notice of outstanding demand in March 2016 of Rs 2160.00 for A.Y. 2010-11 under section 1431a , but he did not pay the demand.I filed his return for A.Y. 2015-16 on 31.03.2017 and that demand is adjusted against the refund payable by the governement. But the amount which is adjusted is Rs 3903.00. They charged the interest of Rs 1743.00 under section 220(2). I think they charged the interest w.e.f. A.Y. 10-11.
Is it Justified ?
If not, then what can I do for claiming the balance amount ?
Thanks in advance
My client received a notice of outstanding demand in March 2016 of Rs 2160.00 for A.Y. 2010-11 under section 1431a , but he did not pay the demand.I filed his return for A.Y. 2015-16 on 31.03.2017 and that demand is adjusted against the refund payable by the governement. But the amount which is adjusted is Rs 3903.00. They charged the interest of Rs 1743.00 under section 220(2). I think they charged the interest w.e.f. A.Y. 10-11.
Is it Justified ?
If not, then what can I do for claiming the balance amount ?
Thanks in advance
08 June 2017
Yes interest will be payable from the due date till the date of actual payment or adjustment.
08 June 2017
Can charge from the 31st day of date of intimation u/s 143(1)(a)
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Difference between Date of Payment and Date of Deduction?
- TDS AND ITR ISSUE
- Journal entry of busniess expenses
- LIC maturity claim whether taxable
- ITR 4 and Bank transactions
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Bank details not Visible on Traces Portal
- 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
