Payment of interest on late payment of tax
This query is : Resolved
18 February 2012
i have recived 143(1) intimation they have demanded 112000 tax but as per my calculation i have to pay 68000 only i have recived this intimation for ay 2009-10 on 7th sep 2010 now in feb 2012 i want to file ractification and to pay such tax now querry is that wheather i have to pay interest for late payment and howmuch. and how can i show it in ractification return. pls guide me early
19 February 2012
You have to first make the request for rectification and get formally the demand to be reduced.
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Pay the liability ascertained by you as the amount payable by you is going to be certainly higher than this amount. This is for avoiding further interest liability.
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Keep pending the interest payment till the demand is finally ascertained.
.
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Pay the liability ascertained by you as the amount payable by you is going to be certainly higher than this amount. This is for avoiding further interest liability.
.
Keep pending the interest payment till the demand is finally ascertained.
.
20 February 2012
u mean ishould pay interest till 7th septmber 2010. on rs 68000 only. and than file the ractification.is there any chance of getting further scrutiny assessment of previous years i.e 06-07,07-08 and other as it is the matter of b/f loss.pls guide me
20 February 2012
In the case where the income is escaping the assessment, or it's found that excess losses had been allowed, case can be reopened for the relevant year according to the provisions of 147, but for doing all this permission of CIT/JC is required. The reasons have also to be recorded by the AO.
As such, haphazardly, the case is not reopened.
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As such, haphazardly, the case is not reopened.
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