Itr4s
This query is : Resolved
07 March 2013
I filed ITR4S (SUGAM) u/s 139(4) for A.Y.2012-13 , on 17th Dec 2012, i.e. after around 5 months of Due date. There is no Tax Burden as I filed income >8% of Turnover as well net income was below 180000.
Is there any Interest liability?? Because I selected return u/s 139(4) and it shows Interest payable of around Rs.4100.
Is there any Interest liability?? Because I selected return u/s 139(4) and it shows Interest payable of around Rs.4100.
07 March 2013
If there is no tax liability then there is no interest as section either 234A, or 234B, or 234C. You saying interest payable showing around Rs.4100 (is it at according to 143(1) Intimation) then you shall file 154(1) rectification request to rectify the process mistake by CPC.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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11 March 2013
Thank you for your reply sir.
Info about this ITR 4S is as under
1) T/o is less than 60 lakhs and profit is more than 8% of T/o
2) Excel sheet, which I downloaded from "incometaxindiaefiling" website, didnt show any interest after fill up data. But when I converted it to XML to upload it shows interest payable.
3) I come to know about interest when I upload XML sheet and got auto acknowledge of same.
4) Return is still under process, i.e. I didnt get 143(1) Intimation yet.
Info about this ITR 4S is as under
1) T/o is less than 60 lakhs and profit is more than 8% of T/o
2) Excel sheet, which I downloaded from "incometaxindiaefiling" website, didnt show any interest after fill up data. But when I converted it to XML to upload it shows interest payable.
3) I come to know about interest when I upload XML sheet and got auto acknowledge of same.
4) Return is still under process, i.e. I didnt get 143(1) Intimation yet.
11 March 2013
Thank you for your reply sir. Info about this ITR 4S is as under 1) T/o is less than 60 lakhs and profit is more than 8% of T/o 2) Excel sheet, which I downloaded from "incometaxindiaefiling" website, didnt show any interest after fill up data. But when I converted it to XML to upload it shows interest payable. 3) I come to know about interest when I upload XML sheet and got auto acknowledge of same. 4) Return is still under process, i.e. I didnt get 143(1) Intimation yet.
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Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=608390
11 March 2013
If no tax payable liability then no interest liability. But you saying at the converted XML file showing interest liability and confirm me is XML file showing tax liability.
I think it is due to the problem in software and its conversion so however your return process not completed by the CPC and didn't received 143(1)intimation. So please wait till the completion of process and receipt of 143(1) intimation if after completion of such process and in the intimation of 143(1) It showing tax or interest liability to pay as demand then you file 154(1) rectification.
OM SAI SRI SAI JAI JAI SAI
I think it is due to the problem in software and its conversion so however your return process not completed by the CPC and didn't received 143(1)intimation. So please wait till the completion of process and receipt of 143(1) intimation if after completion of such process and in the intimation of 143(1) It showing tax or interest liability to pay as demand then you file 154(1) rectification.
OM SAI SRI SAI JAI JAI SAI
11 March 2013
Thank you again for reply sir...
I also guessed same mistake, but was not sure. Now Its seems its software's mistake.
I also guessed same mistake, but was not sure. Now Its seems its software's mistake.
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