ETax payment of Revised return

Sir,

 I have filed revised ITR2, for last FY(2023-24) within July'24 and it got processed in Aug'24

 There is a tax demand of 10K in 143(1) intimation of revised return, which is correct.

1. But under efile>View filed reutrns, it says 'Porcessed with no demand/refund'. 

 and no tax demand shows in AIS.  Is this correct?

2. How do i pay this demand, should I select 'Demand Payment as Regular Assessment Tax (400)'

is there a separate section to pay for Revised return payment of previous years.

3. Should I pay any interest.

4. From when the interest to be paid for the revised return processed in Aug'24 now (Dec'24)

Thanks.

Replies (1)

 Tax Demand Discrepancy The discrepancy between the tax demand in the 143(1) intimation and the "Processed with no demand/refund" status under "e-File > View Filed Returns" might be due to a delay in updating the demand information.

You can contact the Income Tax Department or consult a tax professional to resolve this discrepancy. Paying Tax Demand To pay the tax demand, you should select "Demand Payment as Regular Assessment Tax (400)".

 There isn't a separate section for paying revised return demands for previous years.

Ensure you pay the demand before the due date to avoid additional interest and penalties.

 Interest Payment Yes, you'll need to pay interest on the tax demand from the original due date of payment, which is typically the date of filing the original return.

In your case, since the revised return was processed in August 2024, you'll need to pay interest from the original due date ( likely July 2024) to the date of payment.

Interest Calculation Period The interest calculation period would be from the original due date (July 2024) to the date of payment (December 2024).

You can use the Income Tax Department's interest calculator or consult a tax professional to determine the exact interest amount. Keep in mind that it's essential to pay the tax demand and interest before the due date to avoid additional penalties and interest.

 

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