We have filed the Income Tax Return. In that there was a interest u/s 234B & 234C which was calculated by the ITR utility. We have received the intimation u/s 143(1). There is a difference in Interest u/s 234B & 234C. & there is a demand of this amount.The amount of difference is huge. How to deal with it.
Please Help.
If the demand raised by the dep. is incorrect, then a rectifcation request can be filed stating the relevant facts.
Calculate Interest as per the provisions given in the Income Tax Act & then compare it with the Interest in demand by IT Department. If any difference, then will have to be paid.
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