Intimation u/s 154 & 200a

Dear Friend,

PFA . This will help You.

Thanks & Regards

Rajwant Kaur

CA Finalist

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

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

 

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.

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

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

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.

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.

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.

Dear All,

Having received an intimation u/s 154 read with section 200A which says amount payable for  Additional Late Payment Interest against the Processing of Latest Correction.

The above is for Quarter 4 of F.Y. 12-13, i need to calculate interest on above, so from which date to which date am i reuired to calculate interest when my date of filing as per notice is 13/02/2015,and at what rate? Also on what amount am i required to calculate interest?

Kindly respond at the earliest.

Thanks & Regards.

For Mr. Tushar

Can you please explain what does the mean of likely too exceed

Vivek

PFA.

Vivek

PFA.

Dear Sir, I made correction statement for 24Q FY 201718  on 14/12/18. CPC Traces processed our statement and send intimation under section 154 with interest of Rs.729000/- I have already paid interest @ 18% on late payment. please inform what is the process of cancellation of heavy demand.

Anil Thakur

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