Regarding the Statement - U/S 143(1)
In case of Demand, this intimation may be treated as Notice of Demand under section 156 of the Income Tax Act, 1961. Accordingly, you
are requested to pay the entire Demand within 30 days of receipt of this intimation. The payment can be made using the printed challan enclosed.
The Tax Payment challan is enclosed where the Tax Payable exceeds Rs. 100.
Where to find the challan for printing and how to pay the IT department for demand "NET AMOUNT PAYABLE" ?
Thanks.... Some procedure to clear this to let the Income Tax department know that we have settled Revised ITR besides above payment link?
1) Log in to ur E-filing account
2) Goto Myaccount --> Rectification --> select Assesment Year--> Give Communication Number received with 143(1)--> submit
3) Select "Taxpayer Correcting Data for Tax Credit mismatch only'"
4) On selecting this three more choices come TCS,TDS and IT.
5) Select IT - Give BSR code , Challan No, Challan Date and amt
6) If any tax credit from 26AS is remaining that also you can take
Clcik Submit. Thats it -you need not submit revised XML or anything.
You will get revised 143(1) within 2 weeks or so.
The above steps are required for notifying Income Tax department that Revised ITR final step is done?
And the above step needs to be done after paying the IT department for demand "NET AMOUNT PAYABLE" ?
Yes Indeed.
The > Myaccount --> Rectification steps required to be done after paying the due Amount to Income Tax department? Confirming.
Yes Pay the demand Income tax under head 400. challan 280. and then down load the challan. All the details will there. BSR code, amt, challan no and date of payment.
Then go in for rectification and fill the details from downloaded challan.
Under Type Of Payment* what Box to select for paying back the Income Tax department for Excess TDS refund received?
You have to go to greivance and say I have received excess refund. You have to explain how excess refund was paid to you. Whether some tax credits does not belong to you or there was calculation mistake from their side.
You can also go to your Jurisdiction AO and say that this tax credit does not belong to you.
Method to give back the Income Tax Department the excess refund received as 143 is already processed.... I just need to know the out the boxes which one to select for paying back excess refund ----
| Type Of Payment* | |
| (100)ADVANCE TAX | (102)SURTAX |
| (300)SELF ASSESSMENT TAX | (106)TAX ON DISTRIBUTED PROFITS |
| (400)TAX ON REGULAR ASSESSMENT | (107)TAX ON DISTRIBUTED INCOME |
Return of excess refund does not come under any head as shown by you.
You must have got excess refund bcoz some tax credits may not belong to you. Is it correct.
Please go to ur AO and tell that a particular tax credit didnt belong to you. The office will give challan to you and you will have to pay the amt in the bank.
If you pay in any of the above it will be again tax credit in ur name.
Possible to contact the AO through efilling website, resolve this online? Should this be resolved within specific time frame? and what will happen to - Intimation u/s 143(1)
b4 I can help you further - you must clarify here why you have got excess refund.
1) Whether some tax credits did not belong to you and you took it by mistake
2) Are there less expenses / more income in ur return you filed.
3) Are there chapter Vi deductions you didnt invest in and took claim.
I appreciate your sinceriity to return the excess refund.
You can go to efiling then help then greivance then communication. of course you need to select assesment year and give ack no . Write in detail what has happened. it will be resolved in 8 days. But they will also direct you to go to AO.
There was Less Income showed below 10% Tax Slab and took the 10% TDS refund on Bank FD's which I now needs to return as I have filed revised ITR....
CAclubindia
