notice u/s 221
This query is : Resolved
27 June 2011
One of my clients has received a notice u/s 221.In fact he had filed return for AY 2009-10 as retail trader showing 10% of turnover as income.But the CPC Bangalore has computed @ 20% of turnover and had sent intimation u/s 143 which is not correct.Now whether rectification application u/s 154 can be made?Please guide.
27 June 2011
CPC Bangalore has shown more intimacy by computing profit @ 20% of turnover. I think this is a great mathematical error only.
In spite of multiplying the profit figure by 20 to find out the turnover, they have multiplied the profit by 20 percent.
Rectification application u/s 154 can be made on this ground as it seems a calculation mistake only.
Further, pl give the reply of the notice, may be for the sake of compliance, having a mention about the application for rectification with the relevant facts.
In spite of multiplying the profit figure by 20 to find out the turnover, they have multiplied the profit by 20 percent.
Rectification application u/s 154 can be made on this ground as it seems a calculation mistake only.
Further, pl give the reply of the notice, may be for the sake of compliance, having a mention about the application for rectification with the relevant facts.
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