Dear all,
U/s 143(1), the assessing officer processes the return filed determining the total income after making suitable adjustments and computing the tax and interest, if any. And such tax is to be paid within 30 days from the date of receipt of such intimation. But if there is any mistake apparent from the intimation, the assesse can apply for rectification u/s 154 to AO. Does this have any effect on the time limit of remitting the tax demanded through this intimation as the failure to satisy the demand attracts interest u/s 220 and penalty u/s 221?
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