Notice U/s 143 for income from other sources (doubled the income)

Save Share

This query is : Resolved

Quick Summary

A taxpayer received an income tax notice (u/s 143) where their income from 'other sources' was doubled, leading to a reduced refund. Despite filing the return correctly and raising a grievance, the issue persists. The recommended course of action is to file a rectification request under Section 154 of the Income Tax Act to correct the error.

Satish Mehra

Satish Mehra (Querist)
Follow

08 August 2022 My books are being audited, and CA shows income from other sources in form 3CD in point 16.
And I filled my tax return taking all the income from other sources in account namely Interest on personal FDs, interest on S/a. Now CPC have doubled the income from other sources by adding that income back to the total income and sent me a demand letter. What should I do.
Same thing happened to my friends.
Thanks in advance..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

08 August 2022 Disagree with demand, specify the income already offered under IFOS.

Satish Mehra

Satish Mehra (Querist)
Follow

09 August 2022 I did that sir, but I had a refund of 1,25,000... CPC has doubled the IFOS and auto adjusted the refund from demand even after rejecting the proposed adjustment. Now, no outstanding demand is standing and I got only 65,000 refund. Filed for grievance too, but no response from more than a month. Please guide sir...

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

09 August 2022 File rectification request u/s. 154 of the act.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now