Notice served by income tax

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This query is : Resolved

ROUNAK AGARWAL (Querist)

13 February 2013 I had filled the Income tax Return for A.year 2011-12 , wrongly . The TDS deducted by employer and the certificate issued by the employer showed T.D.S of Rs 20,000 , but instead I had shown just Rs 5000 in ITR of asses see . Thus resulting in the tax payable coming to Rs 55000 , whereas it should be a refund of Rs 15000 .
The I.T.O. has now served me an notice to pay the tax amount .
What should I do ? Kindly explain in detail the steps that should be taken to rectify mistake and avoid tax generated by error .
Send replies at : vgaryan8@gmail.com
09831869709

Anand

Anand (Expert)

13 February 2013 1. File a letter seeking stay of demand
2. File a letter seeking rectification of the order passed by providing the TDS Certificate and copy of Form 26AS which contains the details of your claim for TDS.

ROUNAK AGARWAL

ROUNAK AGARWAL (Querist)

13 February 2013 I had been suggested by an expert here to file a revised return and then attach ITR V wid a letter to ITO stating that mistake had been made in earlier ITR. what u have to state in this matter ?

Anand

Anand (Expert)

13 February 2013 you may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. i.e March 13 or before completion of assessment. it seems that since ao has raised a demand the assessment has been completed.
you can attempt filing the revised return for sure. you should try all steps although in my view the time for the same has lapsed since AO has already raised demand

ROUNAK AGARWAL

ROUNAK AGARWAL (Querist)

14 February 2013 Kindly look into whether I can file a revised return , and guide me . The assessment has been completed by ITO for asst yr 11-12 . kindly revert back after due research .

Anand

Anand (Expert)

14 February 2013 once assessment is complete you cannot revise the return

CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)

14 February 2013 technically assessment means assessment u/s. 143(3), the ao has not assessed the return he just processed it u/s. 143(1). File revised return. if original was paper return than revised paper return is to be filed whereas if original was e-filing than revised return is to be filed electronically.

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