Intimation under section 245

Efiling 4476 views 6 replies

AY-2008-09: I filed my e-return as per Form-16, I have paid my taxes as due. But while filing e-return in schedule CYLA loss to be adjusted (House loan Interest part of Rs. 110135) was not mentioned in Col 2 which was  entered in C of schedule -HP. Where as all information has been given in my e-return. Due to this calculation mistake, I havegot Intimation under Section 245 from IT Departmet.

Question: 1. Can I file a revised e-return now? (as taxes due and paid are correct)

2. If So, e-returne is to filed under which section?

3. Else what I have to do?

Replies (6)

you have to seek / ask for intimation u/s 143(1) and file rectification under sec 154

Which ITR form to be used for section 154.

Intimation u/s 245 means the IT dept wants to adjust your income tax liability against the refund due to you.

 

I am not clear with above answers can some elaborate the solution

As per Mr Sharma, you have to file rectification u/s 154, stating all the facts, attaching your form 16, your IT return copy, etc, and submit it to your AO. And also request them to give you assessment summary u/s 143(1) for the relevant AY.

 

 

Dear Mr. Rajesh,

Intimation u/s 245 means adjustment of refund against outstanding liability of any earlier year. In this case, year of the demand against which the refund is adjusted is mentioned on the intimation. You can file a rectification u/s 154 as rightly said by Mr. Mihir and in that you can mention the mistake in the particular schedule or as second option you can apply to addl. commissioner or commissioner of your jurisdiction to allow you to file a revised return. As per normal provision it can not be filed for AY 08-09 now. However addl. commissioner and commissioner have been given such power to permit assessee to file revised return in some genuine cases. This power has been given u/s 119 of the Act.

For any further clarification you can mail me on ganatraneil @ gmail.com

Regards,


CCI Pro

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