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143 1 notice issued by cpc income tax dept.

rupesh (accounts executive) (81 Points)

21 July 2010

i received a intimation letter from cpc income tax banglure about to pay tax . this is happened due to mistake in filing the online return . i had mentioned my professional income in appropriate columns but bymistake i puted same amount of income in speculative income column thats wise i got in mistake . now cps calculated double income and sended me intimation u/s 143 1.

my query is now what can i do for this, would i try to revised the return or any else?

rupesh ghone

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6 Replies

ASHISH GARG (Chartered Accountant) (35 Points)
Replied 21 July 2010

NOW, YOU HAS TWO OPTIONS 1) YOU CAN REVISE THE RETURN FILED EARLIER PROVIDED IT WAS FILE WITH IN THE DUE DATE OF SECTION 139(1)

2) YOU MAY FILE A RECTIFICATION APPLICATION U/S154 SHOWING YOUR CORRECT PROFESSIONAL INCOME IN RETURN.

Akhil Gupta (Manager F&A) (856 Points)
Replied 21 July 2010

It is merely a clerical mistake, which can be overcome by filing a revised return and send the copy of the same in reply to CPC received by you.

Harpreet (* * * * * *) (1670 Points)
Replied 21 July 2010

agreed with both above mentioned reply

imthiyaz (Tax software Devt professional) (41 Points)
Replied 22 July 2010

It can be rectified by sending rectification letter to the CPC bangalore address. Send the letter with the following details.

Name

Pan No.

Reason

Correspondence reference No.

Send the letter to the following address.In the cover mention " Rectification letter for the AY 2009-10"

Income tax officer

CPC-Income tax Department

Electronic City Post Office,

Bengaluru, Karnataka-560100

Letter should be sent through ordinary post or speed post. Registred post is not allowed.In the address don't mention the post bag no.

Pankaj Gulati (Tax Advisor) (81 Points)
Replied 15 August 2010

no problem, file an application u/s 154 CPC Bangalore as explained above. Revised return can't be filed as the return has already been processed.

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 15 August 2010

Dear Pankaj

Revised return can be filed if original return was filed in time even after intimation has been issued.

Where only intimation was issued but no scrutiny assessment was made, revised return can be filed - Where an intimation was issued and no assessment was made under sub-sections (2) and (3) of section 143, the assessee could file a revised return under sub-section (5) of section 139 at any time before the expiry of one year from the end of the relevant assessment year and the assessment made pursuant to such return would be a valid assessment; the view that in such a case the revised return was invalid in law and the assessment made on the basis of such a revised return was also invalid in law, was incorrect in law - CIT v. Omprakash Bagria (HUF) [2006] 155 Taxman 427 (MP).