intimation u/s 143
This query is : Resolved
07 March 2011
I have recd an intimation. My income is not taxable. I had filed the return as per Form 26 AS shown on the Income Tax site.and shown the tax credit. But the intimation has not allowed the tax credit. wat shud I do
email:samruta1feb90@gmail.com
email:samruta1feb90@gmail.com
07 March 2011
One reason is:-
If the 'status of booking' column in form 26AS shows either 'P' or 'U' credit will not be allowed to the assessee.
If that be the case, pl make sure with the deductor's that deducted amount has been remitted to government and correct particulars are electronically furnished to government.
After this ,pl move a rectification application u/s 154(2)(b) of the income tax Act,1961 enclosing therewith the correct copy of the 26AS (for departments ready reference)thereby seek refund of income tax.
If the 'status of booking' column in form 26AS shows either 'P' or 'U' credit will not be allowed to the assessee.
If that be the case, pl make sure with the deductor's that deducted amount has been remitted to government and correct particulars are electronically furnished to government.
After this ,pl move a rectification application u/s 154(2)(b) of the income tax Act,1961 enclosing therewith the correct copy of the 26AS (for departments ready reference)thereby seek refund of income tax.
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11 March 2011
thanks sir. but the status of booking is shown as "F". In that case the credit shud b allowed. I have also recd a mail from income tax about details of unmatched TDS. wat shud I do sir. Shud i try for rectification upload? But in that wat shud I rectify. Its really a headache. N wats the time limit for replying to the notice u/s 143.
email:samruta1feb90@gmail.com
pls reply Thanks in advance.
email:samruta1feb90@gmail.com
pls reply Thanks in advance.
11 March 2011
Unmatching is generally due to feeding data not properly by the deductor's. So meet the deductors and rectify the said mistakes by filing revised qtly TDS returns from their end so that the "U" will change to "F". After ascertaining the above said change in 26AS,file rectification u/s 155(14) of the Income tax Act,1961. Time limit for rectification is 2 years from the end of the assessment year in which such income was assessable.
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