REGARDING CAPITAL GAIN DEMAND

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This query is : Resolved

Quick Summary

If your ITR portal shows a nil demand but a capital gains tax demand is listed under outstanding demand, check your assessment order. If the demand was raised there, and your original return was filed under the new scheme, you may need to revise your return to reflect the old scheme computation made by CPC. This is particularly relevant if there's a discrepancy between the schemes.

Suresh S. Tejwani

Suresh S. Tejwani (Querist)

31 December 2024 What to do in case on the ITR portal view itr status showing nil demand but in outstanding demand there is showing demand on capital gain.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

31 December 2024 What is the status as per assessment order? whether the demand was raised in the order?

Suresh S. Tejwani

Suresh S. Tejwani (Querist)

01 January 2025 ORIGINAL RETURN WAS FILED ON 10TH JULY,2024FOR A.Y 2024-25 IN NEW SCHEME AND 10IEA ALSO FILED ON 31ST JULY,2024. NOW IN COLUMN NO. 21 OF INTIMATION U/S 143 THERE IS DEMAND OF 11,838 AS PER COMPUTED IN OLD SCHEME COMPUTED BY CPC.

THEN WHAT TO DO IN THAT CASE WHETHER NEED TO REVISE RETURN OR NOT?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

01 January 2025 Yes, revise it under new regime.

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