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Demand u/s 143(1) intimation

464 views 6 replies

Sonal Mittal

3 Points Joined April 2019

I have received intimation u/s 143(1) in which demand of Rs 21000 has raised on account of income ( Rs 25000) of RD u/s 115BBE. what to do ?

Replies (6)

rama krishnan

12244 Points Joined May 2017

for which assessment year

Rishabh Jain

2 Points Joined June 2016

understand the reason for the demand and if you're wrong then revise the return and pay the tax accordingly

Sonal Mittal

3 Points Joined April 2019

for AY 2018 - 19 INTERST ON RD OF Rs. 25000 has been taxed under 115 BBE . I dont know why

Sudiesh

Audit Assistant

527 Points Joined February 2016

File a rectification request

Valerian Dsouza

Manager Audit & Taxation

413 Points Joined August 2007

Section 115BBE Taxation Of Unexplained Income Or Investment

RAMAKRISHNAN R

INCOME TAX OFFICER

1736 Points Joined February 2014

File 264 revision petition before your jurisdictional CIT... Because it'll not be covered under 115BBE. Seems entire principal and interest amount have been charged to tax. Only interest portion is chargeable to tax at slab rates and not at flat rate