Income tax intimation u/s 143(1) where net payable < 100

Tax queries 2322 views 3 replies

Anand

Engineer

24 Points Joined December 2008

Hi,

I had efiled my ITR-2 for AY2011-12. Recently, I received an intimation from CPC, Bangalore. There is a difference between the tax calculation in my filed return and as computed under Sec 143(1). The net payable is shown as10

Can someone tell me what I should do? Should I pay this tax online? Should I also file a revised return?

Thanks,

Anand

Replies (3)

Mihir

Wealth Manager

5293 Points Joined December 2008

288B. Any amount payable, and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest multiple of ten rupees and for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten.

ARUN KUMAR

Financial Consultant

992 Points Joined August 2011

AGREE WITH MIHIR , BUT IF YOU HAVE GET MORE DIFFRENCE THAN CLEARLY STATED.

Gavin

B.Com

40 Points Joined July 2013

Originally posted by : Anand

Hi,

I had efiled my ITR-2 for AY2011-12. Recently, I received an intimation from CPC, Bangalore. There is a difference between the tax calculation in my filed return and as computed under Sec 143(1). The net payable is shown as10

Can someone tell me what I should do? Should I pay this tax online? Should I also file a revised return?

Thanks,

Anand

Dear Anand

Can you please tell me what have you done in your case. I am facing a similar issue. Although I know u/s 143 (1) of income tax act any amt less than Rs100 is not required to be paid.