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Income tax a.y 2014-15

Balakrishna P (Sr.Accounts Executive) (62 Points)

29 October 2014

Dear sir,

I am filed income tax on 15.07.14 and paid full tax ( i.e advance tax Rs.34000/- and self assessment tax-1180/-). The order is passed under 143(1) on 20th Sept and observed that they are considred only Rs.34,000/- and Self assessment tax is not considered. So I am login my id in income tax web site and rectification for request the amount Rs.1180/- . Now on 17.10.14 once again they are sent revised intimation under 143(1) and shows only Rs.1180/-. They are not considered advance tax payment Rs.34000/-. They sent semand notice Rs.37500/- including interest ,penalty.

So request you to kindly suggest me how to adjust the advance tax amount and self assent tax amount.

Your early response is highly aprreciated.

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5 Replies

vijay kumar gupta (AO) (28 Points)
Replied 29 October 2014

You have to file correction request

TKKKKKK (PRACTICING CA) (3268 Points)
Replied 29 October 2014

File revised return because time is available. Why did you go with rectification? There may be mistake in return filling. File again properly or take help of CA for return filling.

CA Vap Patel (Practice) (1205 Points)
Replied 29 October 2014

Dear Balakrishna P,

This is very common mistake every tax payer is making now a days. At the time of filling rectification request u/s 154 you have to enter all TAX credit detail.It means you have to enter both Tax payment Detail (Advance Tax Paid and Self Assessment Tax Paid).

So now again file rectification request u/s 154 and this time enter both , self assessment and advance tax detail. Please make sure before filling rectification request all tax credit are duly shown in FORM 26AS otherwise you wont be able to claim your credit.

PRABHAT KUMAR GUPTA (Article Assistent) (25 Points)
Replied 29 October 2014

There may be possible reason for clerical mistake. You should go for revised your return u/s 139(5). And also fill advanced tax deposite detail properly. As you said IT department not consider your advanced tax their may be mistake at the time of payment of advanced tax that is PAN no. Not duly entered & Also crossche