We have filed the trust's Income Tax for the assessment year 21-22 last years,but now this has been issued 143(1) in that order we are liable to pay tax. Any chances to get the rectification. please clarify whether we can get rectification or not?.
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Quick Summary
If your trust has received a 143(1) order resulting in a tax liability for assessment year 21-22, you may be able to seek rectification. Errors apparent on the record can be corrected under Section 154 of the Income Tax Act. You generally have four years from the end of the financial year in which the order was passed to file for rectification. The process involves approaching the assessing officer and applying online, potentially with a prescribed fee.