Regarding assessment order

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Dear Sir,

I have some doubt with regard to assessment order passed by AO. Total tax liability of my client was 2,50,000/- however TDS claimed was 3,12,000/-

Under computation form given along with assessment order ; they have shown detail computation and tax liability of Rs.2,50,000/- and under tax paid they shown 2,50,000/- accordingly demand shown as NIL. Is it correct? Is they required to show 3,12,000/- and mention balance as refund.

Please clarify about the doubt. It may be because assessment & refund proceeding are separate.

Ravikant

Ravikant (Expert)
Follow

01 January 2012 assessment and refund proceeding are not seperate,, there may be an error in assessment order, check out with your A.O., or submit a rectification request

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Dear Mr. Ravi

I do not agree with regard to assessment and refund proceeding.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

01 January 2012 First you have to check online Form No 26AS of the assessee. It is possible that form 26AS may be showing credit for Rs 250000/ only and the balance 62000 credit might have not been shown.
.
After getting it rectified from the deductor you may file a rectification request.
.

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Dear Paras Sir,

Doubt is whether the computation sheet will show refund or not. My 26AS is showing full credit which i have claimed.

Please tell what i need to do to correct computation sheet which has been received along with assessment order.

Please help me out.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

01 January 2012 If TDS amount has not correctly shown, as you have said, file a request for rectification. The department /CPC will rectify its mistake.
.
While uploading the XML file check carefully whether the necessary corrections, if any required, have been properly made at your end.
.

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2012 Will it be recitied through rectification?

Is it serious issue?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

01 January 2012 It is the matter involving Rs 62000/-.

It depends financial capacity of a person and how he takes if loses Rs. 62000/-?

.
It can be rectified only through rectification procedure.

Ravikant

Ravikant (Expert)
Follow

01 January 2012 agree with parasji

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