When will I get demand notice for revised return ?
I have filled original income with 92k refund.. before issuing refund i filed revised return for 90k tax payment. But in my case my original return got proceed crediting refund in my bank account. For revised return when I will get demand notice. ? Since department is not issuing it in timely manner do I need to pay un necessary interest for that demand?
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There is tax liability for revised return for original it wasn't so refund already issued . Now question comes for revised return
Originally posted by : sabyasachi mukherjee |
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Original return filed .revised return why you must get demand notice?it's ridiculous. |  |
Why twice? My tax liability is only 90k
| Originally posted by : Eswar Reddy S | ||
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@ Kalpesh Joshi,You will get demand notice for 90+92k+ interest.Take professional help to follow-up it | |
| Originally posted by : CA Raj Doshi | ||
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Whenever revised return gets processed, pay the demand. Don't pay early. The interest component will be negligible. | |
Will i get 90+92k + interest in demand notice as stated by Mr eswar above
Eswar Reddy sir is correct. You will get refund of 92.. and then you will have to pay the 92 you received as refund... plus another 90 which you actually had to pay
| Originally posted by : CA Raj Doshi | ||
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Eswar Reddy sir is correct. You will get refund of 92.. and then you will have to pay the 92 you received as refund... plus another 90 which you actually had to pay | |
But why I need to pay twice. ?
In this way I am paying twice. Originally I had tax liability of 90k out of 92k of advance tax paid and 2k refund But original return i got whole refund as because of mis calculation . I got 92k refund here. After filed revised hence tax liability is stands still at 90k only
CAclubindia
