Notice 142(1)

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Hi,

My client has received notice 142(1) asking for information regarding foreign tax credit claimed in the return for A.Y. 2017-18. He claimed it in the return in India  but then filed US return and received refund from US. But he didn't show this refund in the  indian ITR in subsequent years. Now he wants to pay taxes on it. Revised return can't be filed now for A.Y. 2017-18. Also, i think rectification also not possible in this case. Is there any way to pay taxes before IT officer levies penalties and interest for it?

Replies (5)

Taxes can be paid anytime.

Revised return for AY 2017-18 can be filed till 31.03.2019.

you can file return u/s 142(1) if option is provided to you in the notice
yes you can file return u/s 142(1) and then submit copy of return to AO alongwith reply of notice
thank you and congratulations
hlw

received nitice section 142
wht the procedure to be furnished before time

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