I am expecting refund of approximately Rs 4000 for AY 2013-14 and there was an outstanding demand of Rs 500/- for AY 2011-12. I have made the payment of Rs 1500/- recently and the demand has been nullified by AO already.
But today I received intimation u/s 143(1) which shows outstanding demand is still Rs 1500/- and the net amount refundable is Rs (4000-1500)=2500/- only. I think that the IT return was processed before the demand gets vacated by AO.
Do I need to file rectification now? If yes, please suggest me the corresponding rectification type and reason. Please suggest me the needful to get entire refundable amount.
CAclubindia
