Hello,
We are married goans and hence governed by portuguese civil code. While filing income tax returns for assessment year 2012-2013, I showed half of my bank interest and also corresponding TDS in my wife's income tax caluclations. The TDS and the income due to bank interest was actullay against my PAN number. So based on the calculations, my wife was supposed to receive refund for the amount. My income tax retruns have been accepted.
But Income tax dept has sent intimation under section 143 (1) that my wife needs to pay extra tax. After going through the details of the intimation, it is seen that the half of my bank interest that I had shown in wife's return has been taken in to consideration while the half the income tax that I had shown has not been considered. So the total income that was reported in wife's income tax returns are considered while total tax paid is not considered (since part is actually againt my PAN number).
How should I respond to this intimation?
Regards,
KK
CAclubindia
