Dear Experts,
I have defaulted in filing my IT returns for AY 2012-2013 within the due date 31-August-2012. The net tax due was Rs 44739. The TDS amount was Rs 19698 which was paid by my employer. I filed the income tax on 13-October-2013 including all the interests under 234a,234b,234c.
Income tax due date : 31-08-2012
Income tax filed on : 13-October-2013
Remaining tax = Rs 44739-19698 = Rs 25041 + interests
Interest 234A=Rs 3500, 234B=Rs 4750, 234C= Rs 524
Total Self-assessment tax paid on 13-October-2013 = Rs 33810
On 18-July-2014, I get a demand intimation under section 143(1) saying i have pay tax for Rs 36070 for which the break up is given below
Remaining tax=Rs 25041
Interest 234A=Rs 3500, 234B=Rs 7000, 234C=Rs 524
Demand request = Rs 36070
When I check my 26AS, the self-assessment tax paid by me on 13-October-2013 for Rs 33810 is getting reflected correctly but it is not given under section 143(1).
The interest on 234B is varying from the amount calculated by me because I think the IT department calculated the interest under 234B from the 1st April of the AY till the period the intimation under 143(1) is sent.
But in my case I have paid the self-assessment on 13-October-2013 before I filed the income tax return and also it is getting reflected in the 26AS but not in the intimation under section 143(1).
Should I pay the interest for 234B from the 1st april of the AY till the date of intimation?
Should I file a rectification request online? How should I proceed?
CAclubindia
