A person is having income from rent of cars u/s 194IB & contract work income u/s 194c in thier 26AS.
But last year i.e. A.Y. 2017-18 he filed return in ITR_1 and claimed refund of Rs. 86000 .
but due to wrong ITR form selection & income , he received a demand notice from CPC of Rs. 195000 approx.
now should i revise the return or any other option is available.
& which ITR should be filed....whether ITR -4 (presumtive basis )can be filed or not...?
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Replies (3)
Yes, you may revise the return ......... with ITR4; but doubt is whether CPC will consider the revised return now.
one more thing sir
in CPC notice income is shown in House property head but in 26AS tds is deducted under section 194IB which is foe renting of plant machinery......
what option is available for solving this issue
in CPC notice income is shown in House property head but in 26AS tds is deducted under section 194IB which is foe renting of plant machinery......
what option is available for solving this issue
Section 194IB is wrongly applied here. It should have been sec. 194IA; and that is the main cause of demand.
Now, to solve the issue...... you either need to get rectified the TDS section from tax deductor; or go with CPC order......
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