Intimation u/s 154 & 200a


Accountant

Dear Friends/ Experts

We received intimation U/s 200A & 154 from TRACES. Please tell me

  1. Section code & challan for making payment for the following type of default?
  2. Revised return it’s applicable after the payment done?
  3. If any chance? will be IT dept (TDS) waived off U/s 234E late filing Fee by assessing officer?

Type of defaults

1. Short Payment

2. Interest on payments default u/s 201 (1A)/206C(7)

2(a) Interest on short payment

2(b) Interest on late payment

2(c) Additional late payment interest against the processing of latest correction

3 Interest on deduction/collection default u/s 201(1A)/206C(7)

3(a) Interest on late deduction/collection

3(b) Additional late deduction/collection interest against the processing of latest correction

4. Late Filing fee u/s 234E

4(a). Late Filing levy

4(b).Additional late filing levy against the processing of latest correction

5. Interest u/s 220(2)

 

Thanks & Regards

KUMARASWAMY

 
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B.com, CA Final

Dear Friend,

 

PFA . This will help You.

 

Thanks & Regards

Rajwant Kaur

CA Finalist

 



Attached File : 210147 1331272 tds tcs default us 2011 mismatch us 200a nature remedies krishna kumar 06 05 2012.pdf downloaded 5296 times

Total likes : 3 times

 
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CA Final student

What is Additional late payment interest against the
processing of latest correction? (notice issued u/s 154)

Earlier there was demand of interest on late payment of TDS of Rs. 430 for Q1. I paid the same demand but after submission of correction statement with traces i got notice u/s 154 demanding to pay Rs. 540 for additional late payment interest against the processing of latest correction.

What should i do now?

Please help

 
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Article Assistant

Even i got notice for Additional late payment interest against the processing of latest correction. Please give us solution.

 

 
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CA Final student

Dear Nirmala,

I talked with the CPC agent & the mistake i made was that i didn't Claim the amount as interest payment.

while filing the correction statement after payment of challan in respect of Int. on late payment or any other, you have to mention whether you are claiming the amount paid as a "interest" or as "others".

Once you claim & file the correction statement after 1 or 2 days the statement will be processed & the demand will be nill.

If you have any further doubts in this case you can Send PM. I hope your doubt is cleared.

 
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DEAR SIR

MY CLIENT HAVE PAID IN LAKHS WHILE SUBISSION OF ORIGINAL RETURN  RETURN LATE BY 28 DAYS

PENALTY U/S 234 E IS LEVIED @ 200/- DAY RS 5600/- THE SAID IS PAID AFTER 12 MONTHS

AGAIN THE RETURNS ARE REVISED AND DEPT IS ASKING THE CLIENT TO PAY

Additional Late Filling levy against the processing of latest correction RS 3200/- + INT THEREON 

PLS EXPLAIN WHAT DOES "Additional Late Filling levy against the processing of latest correction " HAVE RELVANCE IN THIS CASE.

THE AGENTS AT CPC ARE NOT ABLE TO EXPLAIN THEY SAY THE DEMAND IS COME U PAY IT AWAY

PLS EXPLAIN AND JUSTIFY

 

 
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DEAR SIR

MY CLIENT HAVE PAID IN LAKHS WHILE SUBISSION OF ORIGINAL RETURN  RETURN LATE BY 28 DAYS

PENALTY U/S 234 E IS LEVIED @ 200/- DAY RS 5600/- THE SAID IS PAID AFTER 12 MONTHS

AGAIN THE RETURNS ARE REVISED AND DEPT IS ASKING THE CLIENT TO PAY

Additional Late Filling levy against the processing of latest correction RS 3200/- + INT THEREON 

PLS EXPLAIN WHAT DOES "Additional Late Filling levy against the processing of latest correction " HAVE RELVANCE IN THIS CASE.

THE AGENTS AT CPC ARE NOT ABLE TO EXPLAIN THEY SAY THE DEMAND IS COME U PAY IT AWAY

PLS EXPLAIN AND JUSTIFY

 

 
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CA Final student

Dear ashish,

First of all, you don't have to pay penalty i.e. late filing levy u/s 234E as the petitioner has filed the case against I.T. Dep. in the kerala high court. Either you can wait or you can pay the same it's your choice.

First check the challan status on traces if its unutilised then as i explained earlier you'll have to claim the amount paid as a "others" or as a "interest" while submitting the correction statement with traces. Make the challan correction & claim the amount.

CPC agents will not help you, they will just tell you to download the Justification report.

 
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CA Final

One of my friend is doctor. She has served a hospital in gurgaon from dec 13 to march 14 as a professional. She recieved 160000 and accordingly TDS has been deducted @ 10%. she had only this professional income and eligble for refund of income tax. Whether she required to maintain books of accounts u/s 44AA ? She had never worked as professional before dec 13.

 

 
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CA Final student

Dear vivek,

As your friend is doctor she comes under medical profession which is covered under the definition of specified profession.

A person engaged in the medical profession has to maintain the books of accounts specified under rule 6F if the gross receipt from such profession exceeds Rs. 1,50,000 in all the three years immediately preceding the previous year.(In case of new profession if the gross receipts of the first year are likely to exceed Rs. 1,50,000.)

Therefore, your friend has to maintain the books of accounts.

 
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