I had filed the return for A,Y 2014-2015 and the tax payable was NIL. However i have a received notice u/s 143(1) for A.Y 2014-15 raising a demand of Rs.16040. This was because i have taken wrong amount as Total Income when i filed the return for the same. However if i revise the return u/s 139(5) taking the correct income then i will need not to pay any tax, as was the case earlier. Kindly advise .....
1) Should i pay the demand first and then revise the return claiming refund of the demand paid ?
2) Should i revise the return only and not pay the tax ?
3) Any other recourse to be taken ?
CAclubindia
