Hi,
Demand intimation from cpc
Disha Vaidya (Sr Manager) (40 Points)
26 July 2013Disha Vaidya (Sr Manager) (40 Points)
26 July 2013Hi,
Ankit
(CA, CS)
(3064 Points)
Replied 26 July 2013
Hi,
In this case, you first need to compute the tax and check whether the amoutncalculated in the intimation is proper. if it is not so, you will have to file a rectification for the same u/s 154. this happens many times due to non allowance of credit of the tds
however, if the mount is correctly computed in the intimation, you will have to pay the amount along with interest.
Disha Vaidya
(Sr Manager)
(40 Points)
Replied 26 July 2013
Hi,
How do I know how much penal interest I have to pay. I believe their calculation is correct as I had not considered the interest u/s 234c.
Ankit
(CA, CS)
(3064 Points)
Replied 26 July 2013
Disha,
i suggest you recheck the calculations since, if the return was e-filed, the interest u/s 234c would have got computed automatically by the efiling utility
the interest you have to pay is u/s 220(2) at 1pcpm from the ne] the due date of payment mention in the notice.
if you need any help in checking the computatio0ns in the intimation...you can let me know
Disha Vaidya
(Sr Manager)
(40 Points)
Replied 26 July 2013
Hi,
TTL was 67700 and TDS paid was 29117.
Utility had calculated interest u/s 234 ABC as Rs.2965 and as per the intimation it is Rs. 2695 under 234B and Rs. 1425 under 234C.
TTL as per the intimation is same as the one computed by utility.
Return was filed on 28-07-2012 and order date was 15th Oct 2012.
thanks,
Ankit
(CA, CS)
(3064 Points)
Replied 26 July 2013
Hi,
the interest u/s 234A should not come in the first place.
234B should be 1453 (on 38583 for 4 months at 1pcpm)
234C should be 1427
total interest liab is 2970
Ankit
(CA, CS)
(3064 Points)
Replied 26 July 2013
so, the computation by the utility seems to be correct
Disha Vaidya
(Sr Manager)
(40 Points)
Replied 26 July 2013
so should i file for a rectification? or take no action?
Anyways the entire amount of 42700 (38583 +2695+1425 - as per cpc calculation) is showing as outstanding where as i have already paid 41548.
Ankit
(CA, CS)
(3064 Points)
Replied 26 July 2013
Ankit
(CA, CS)
(3064 Points)
Replied 26 July 2013
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