10 January 2010
Mr. X filed his return for the assessment year 2008-09 on time.Later on department issues intimation under section 143(1) asking him to pay Rs. 23000. On receipt of intimation mr. X discover the following error in the intimation and the return filed by him 1.Intimation : AO failed to give him the credit of Rs. 25000 against the TDS as per form 16 issued by the employer 2. Mr. X him self unintentionally failed to show Income of rs. 40000 on which TDS of Rs. 3450 was deducted . 3. Mr X by mistake forgot to take credit of advance tax paid by him. Rs.12000.
Q:1 Mr. X want apply for rectification under section 154 ( for intimation) and file revise return under section 139(5). would this be a better action? or is there any more suitable action with Mr. X. Please suggest .
10 January 2010
Revise return can file within one year from the end of a/y or before the completion of assessment whichever is earlier. And in this case assessment has been completed, so revise return cannot be filed. Rectification u/s 154 is a suitable action as per my opinion.
10 January 2010
But sir for the purpose of Section 139(5) assessment means assessment made under Section 143(3) and 144. Intimation issued under section 143(1) is not an assessment for the purpose of this Section. please suggest
11 January 2010
amit you are correct it is only intimation not assessment check if period of 1 year is not over even if it is over get the staff in confidence
11 January 2010
Sir should i take the following steps 1. Apply for rectification of intimation 2. then file the revised return to take credit of advance tax and also to show the income not included in original return.
03 April 2010
In the best interest of the client it is advisable to ask for credit of Advance Tax and T.D.S. for which you are not given credit by application for rectification of error.
Other matters disclosed voluntarily may result as additional Tax liablity as well as Penalty proceeding for filing inaccurate Particulars of income.
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