Rule 37BA (Demand Notification)

This discussion revolves around a taxpayer receiving an intimation under Section 143(1) with a significant demand, primarily due to the application of Rule 37BA. The core issue is that TDS on the sale of a house property, where income was split 50% with a spouse, was claimed entirely under the taxpayer's PAN, despite the buyer deducting TDS under that PAN. The tax authorities have only allowed a portion of the TDS credit, leading to the demand. The taxpayer is seeking clarification on how the figures were calculated and how to rectify the situation, as the window for filing a revised return has closed.