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RECTIFICATION U/S 154

Kamal Verma (Financial advisor) (578 Points)

21 February 2020

Dear Experts,

Intimation u/s 143 (1) shows a demand of Rs. 1.25 Lacs (not considering TDS of Rs. 1.25 Lacs), assessee has filed request for correction u/s 154 online. However I. Tax deptt freeze the bank account and deposits of assessee amount in Crores, What should assessee do??

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4 Replies

Kapadia Pravin (17249 Points)
Replied 21 February 2020

Meet the AO and explain the facts. I am sure they will immediately refreeze the bank account and also give credit for TDS amount if it tallies with 26AS

Raghav Jhunjhunwala (51 Points)
Replied 21 February 2020

No A.O. in his right mind directly freeze your bank accounts. He must have served you with a notice for collection of tax arrears and also a notice for show cause for not to initiate recovery proceedings. Please file proper replies with the authority to correct the situation.

Kamal Verma (Financial advisor) (578 Points)
Replied 22 February 2020

Assessee had already filed application u/s 154 before 10 days but account is still freeze. How much time taken by authority to rectify the correction.