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143(1) Intimation Received

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Veera Veera

204 Points Posted on 27 October 2021

Received Intimation under section143(1)

Section 234 A & 234 B, Defaults for late furnishing the return & Default for payment of Advance Tax .
Received Rs. 3,20,000/- & 5,48,000/- intimation received for AY 2019-20

Whether we can submit condonation request for waive off

Please do reply

Replies (5)

Quick Summary

This discussion addresses receiving an intimation under Section 143(1) of the Income Tax Act, specifically for defaults related to late filing of returns and non-payment of advance tax for AY 2019-20. The user is inquiring if a condonation request can be submitted to waive off the associated interest and late fees. However, the consensus suggests that while condonation applications are possible for delayed filings, they generally do not lead to a waiver of interest and late fees.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121521 Points Posted on 27 October 2021

Query not clear, please elaborate.

sabyasachi mukherjee

Profession

19978 Points Posted on 27 October 2021

Sec 119(2) (b) is applicable in case its a belated return.demand notice may be legitimate depending upon the circumstances of the case.

Janak Shah

357 Points Posted on 27 October 2021

Application for condonation will not be tenable in case of waiver of interest and late fees. Condonation applications are only tenable when there is delay in furnishing of return beyond the prescribed time of belated return and even in such cases interest and late fees cannot be waived off.