Section 11 query!

Dear Sourav,

Notice must be given in writing to the Assessing Officer, intimating him about your intention to exercise the option available under the Act.

Yes u will have to Write to your A.O. as hw u r going to use this unutilized amount...........

agree with pooja

 What can be the implication of not doing the above?

I have seen a Trust not following the above procedure and inspite of that getting the IT refunds every year.

Sourav

Originally posted by : Jayesh
	Dear Sourav, Notice must be given in writing to the Assessing Officer, intimating him about your intention to exercise the option available under the Act.

Where is this thing mentioned? I couldnt see it anywhere in the IT act.

Sourav

Originally posted by : Sourav Modi
	Originally posted by : Jayesh Dear Sourav, Notice must be given in writing to the Assessing Officer, intimating him about your intention to exercise the option available under the Act. Where is this thing mentioned? I couldnt see it anywhere in the IT act. Sourav

Explanation 2 to section 11(1) within the time limit allowed u/s 139(1) 

pls correct me if i m wrong

Dear Sourav,

There is something called interpretation of law......u will not get exactly what i have written since it is written to expain you. (My comment was interpretation relevent section quoted by u, and it is generally done by trusts)

Thnx Jayesh.

Just to add to what u mentioned, I just came across the following link, where it is mentioned that the the time limit to exercise the option is just directory in nature and not mandatory and therefore AO can condone the delay.

https://www.incometaxforngos.org/deemed-app.htm

Sourav