Hello,
Today I received an email from IT depart with subject marked as "Intimation under section 245 of Income Tax Act, 1961"
In that for AY 2008, a huge amount is raised as demand amount. Also it is mentioned as The refund determined in this proceeding is being adjusted against the outstanding demands ( I had claimed some refunds in the returns for AY 2012-13 during July 2012)
Please clarify on the following.
1) AY 2008 - does it mean AY 2008-09?
2) On what basis is this demand is raised? How would I get the details?
3) After initial check for my returns for that AY, is it advisable to go through a tax consultant to approach the department? I am getting such notifications for the first time
Please advise me.
Regards,
Harsha
CAclubindia
