Revised return and interest as per 234(a)

ITR 287 views 3 replies

Harish

53 Points Joined May 2011

For the last assessment year 2017-18, After receiving notice under 143(1)(a) - due to variance in income as a mismatch with 26AS, If I need to pay additional tax by filing revised return - then under which section the revised returned will be filed ? Also Do I need to pay interest under section 234(A) on the additional tax that need to be paid, considering original return was filed timely ?

Replies (3)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210396 Points Joined July 2016

If you wish to reply the notice......... you will have to proceed through “E-Proceeding” Tab and choose “E-Assessment/Proceedings after login to efiling site...... & Click on “Prima Facie Adjustment u/s 143(1)(a)”

For more detailss refer: tax-notice-proposed-adjustment-1431a

But if you wish to revise the return you can file it u/s. 139(5)....... within 15 days.....

Yes, interest liability will arise of any tax due......

Aashish Sachdeva

839 Points Joined March 2018

As per my personal opinion, if you wrongly disclosure your income then you may revise return with time limit specifed, if you have prove that you show the right calculation, then you have to with e proceeding. If wrongly disclose then pay interest with tax.

If anybody have different views then views are welcome. thanks. Disclaimer:it is not Professional advice.

Oscar Tyson

asdsdf

22 Points Joined February 2019

In everything there is the interest that is being paid by many people. Hence some users are using 123 help me that is the best site for the advancement of people.