Hello,
I received 'Notice of Rectification under Section 154' of the Income Tax Act, 1961.
What are the consequences if
- Rectification Proposal is agreed or
- Rectification Proposal is not agreed
What should be the reason for not agreeing?
In your case Banglore CPC wants to rectify its own order - suo moto (self) without your application.
So Banglore CPC is asking for your answer whether you agree to Rect u/s 154 or not.
If not , then reasons thereof.
Note: A rectification u/s 154 can be carried out by Income Tax on application of assessee or a suo moto rectification.
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