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Demand notice by income tax

shobhit (aa) (339 Points)

28 May 2017

FRIENDS,

I HAVE FILED MY ITR FOR AY 15-16, BUT AS I WAS CONFUSED IN WHAT IS AY AND WHAT IS PY, I PUT THE DETAILS OF FY 15-16 IN AY 15-16, IN FY 15-16 THERE WAS TDS OF RS. 10000 WHICH I WRONGLY PUT IN THE RETURN OF AY 15-16. BUT ACTUALLY THERE WAS NO TDS FOR AY 15-16 DUE TO THIS DEMAND HAS BEEN REFLECTED BY DEPARTMENT.

NOW WHAT CAN I DO. PLEASE HELP

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20 Replies

(Guest)

GO FOR RECTIFICATION OF MISTAKE UNDER SECTION 154

1 Like

shobhit (aa) (339 Points)
Replied 28 May 2017

SIR, I HAVE A FEAR IN MY MIND i,e ALL THE INCOME WILL BE CHANGED IN THE RECTIFICATION RETURN INCLUDING DEDUCTIONS UNDER VI.....IS SUCH A CHANGE IS ALLOWED??? WILL THEY TRANSFER MY CASE TO LOCAL IT OFFICE....IF I DO THAT

(Guest)

TWO ALTERNATIVE GO FOR FOR RECTIFICATION

OR PAY DEMAND

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 28 May 2017

Go For rectification even if your whole calculation change.

2 Like

thiruvayu (FCA) (155 Points)
Replied 28 May 2017

only one option. Pay tax for AY 2015-16 of Rs10000 and claim refund for AY 2016-17

1 Like

CA Revanth Bharathwaj M (Freelance consultant in Direct Tax and Financial Reporting) (373 Points)
Replied 29 May 2017

i advise rectified return

karthik (masterminds) (30 Points)
Replied 29 May 2017

Go For rectification even if your whole calculation change

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 29 May 2017

Dont copy karthik

thiruvayu (FCA) (155 Points)
Replied 29 May 2017

Assesse claimed tds in his original income tax return. Actually there is no TDS. The only option is to pay the tax. In rectification return you cannot reduce

thiruvayu (FCA) (155 Points)
Replied 29 May 2017

the income and tax.

CA. K George Philip (Partner) (226 Points)
Replied 29 May 2017

I agree with Rashmi, Revanth & Karthik. In Rectification Request, you can replace all relevant Schedules that require change and upload fresh X M L. There can be divergent views which I honour. But at this juncture, the only possible remedy to minimize tax burden, RR opition can be attempted.