Payment of demand in intimation u/s 143(1)

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This query is : Resolved

Dinesh (Querist)

29 December 2011 Hi Experts

I am very thankful to you people for the continuous support and help. From one of forums replied by you, I read that in case any taxpayer calculates tax wrongly and file ITR same (wrong). Now after Intimation U/S 143(1), he needs to pay the remaining amount. A little clarification that I need is "Do ITR revision is required? or Just payment will do" In which cases Revision is required. Under which category (Income tax/Surcharge/Education Cess/Interese/Penalty) payment should be paid. Is it same where difference is available in intimation sheet.
After Payment, Do Taxpayer receives any revised Intimation?
Kindly help.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

29 December 2011 If the Demand is correct, simply the amount can be paid through the challan enclosed with the intimation itself or by preparing a fresh challan.
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Revision is not required. It will be called rectification , in case you have not been given tax credit for which you were entitled, you can file online application for rectification.
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The amount demanded may be paid under the various categories, however if you do not have such break up, pay as Income Tax only.
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The tax payer does not receive a "Thank You" letter from the department. He can only wish that May the demand notice not be repeated by the department.

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Dinesh

Dinesh (Querist)

29 December 2011 Thanks a Lot Paras.

IT Deptt has given right Tax details, I was wrong in my calculation. I will pay the amount.

Just a small query, Do I need to raise a request for rectification?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

30 December 2011 No, They have corrected what was wrong. Now its your turn. You just pay the demand only. Further communication with CPC is not required.