LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

Demand u/s 143(1) intimation

25 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 ?

Reply
Follow
Share

6 Replies

rama krishnan (12234 Points)
Replied 26 April 2019

for which assessment year

Rishabh Jain (2 Points)
Replied 26 April 2019

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

Sonal Mittal (3 Points)
Replied 26 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)
Replied 26 April 2019

File a rectification request

Valerian Dsouza (Manager Audit & Taxation) (405 Points)
Replied 26 April 2019

Section 115BBE Taxation Of Unexplained Income Or Investment

RAMAKRISHNAN R (INCOME TAX OFFICER) (1736 Points)
Replied 27 April 2019

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