Hi,
Today I received an email from intimations @ cpc.gov.in regarding 'Communication on Arrear Demand'. The letter has an attachement which gives an intimation disclosing details of the demand(s) that are outstanding as on the date 2010.
Amounts mentioned/demands outstanding (Rs5 lakhs...) is for the assement year 2006-7. However, I have my form-16 & ITR-V returns form available with me that indicates I have filed the returns and investment proof as appropriate. Moreover, i didn't have any outstanding amount (such as refunds or tax payble) for this year. This amount is almost equal to my yearly gross income and I'm not getting any clue as to why IT deptt has sent this letter to me.
The letter states that this may be treated as intimation u/s 245 of the Income Tax Act, 1961. Can anybody on this group help me understand the meaning and actions to be taken by me in such case.
CAclubindia
