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There is inconsistency in amount mentioned in return at Sl. No. 5(d) of Part A OI "Any other item of

Vijay Nandaniya (Audit Manager) (77 Points)

28 March 2022

Today I have Received Mail From Income tax Processing Department for

Proposed adjustments u/s 143(1)(a) of Income Tax Act, 1961

For Audited Assesse regarding Interest on Saving Account in Other Income Section

When I Check Income tax return form from IT Portal It Show Interest Income in this Head But

Assessing Officer Said in mail that Interest income is Not shown in Other Income section and it will added as per 3CD File

Particulars : There is inconsistency in amount mentioned in return at Sl. No. 5(d) of Part A OI "Any other item of income" and Tax audit report

₹5,261

Amount mentioned in form Annexure 3CD (b)

₹0

Amount mentioned in the Income Tax Return (a)

₹5,261

How to Response this as this problem is in other 5 Auditable Firm also

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25 Replies

sabyasachi mukherjee (25988 Points)
Replied 28 March 2022

It is only interest income AM I correct?

Hardik Kataria (article) (35 Points)
Replied 29 March 2022

I too have received the Same Error in all my Audit Clients.

Only Interest Income. Is it Schema Error or we need not mention the same amount in Audit Report?

1 Like

Bollywood alwyz (9 Points)
Replied 29 March 2022

Today I got the same mail.

1 Like

Amitabh kochar (CA) (31 Points)
Replied 29 March 2022

I also get same notice of some of my audited firm.

I mentioning what i did to solve the query.

I revised the Income Tax Return and mention the same amount in Sl. No. 5(d) of part A of other information which was mentioned in Audit Report. than provide the response by explaining bifurcation of that amount in Income tax return heads.

1 Like

Mayankkumar (study/TRP (Tax Return Preparers)) (191 Points)
Replied 28 May 2022

sir , after revised is your return is processed or not ? now they again ask in all case with due date 14-06-2022 ! hope good represent from ICAI happen and solve this case other income adjustment notices

1 Like

Vijay Nandaniya (Audit Manager) (77 Points)
Replied 28 May 2022

I also Received this due date Extention in my 3 client but IT site does no show pending action

sunil arora (54 Points)
Replied 22 June 2022

Any solution to the above problem. As i disagreed with the proposed adjustments 143(1)(a). now i received demand u/s 143(1) . they have added the difference again in the income and sent challan for payment of tax.

Any update on the issue.......

Mayankkumar (study/TRP (Tax Return Preparers)) (191 Points)
Replied 23 June 2022

out of 6 143(1)(a) this other income issue i revised one client on 29-3-2022 with as per mention in profit and loss other correct adjustment they process it on 20th june as per our revised return and issue refund , other 5 case where just select disagree and type explanation in that all shows "underprocess on 21th , 20th etc" wait for 143(1) order ! SUNIL ARORA in your case can you share page no 10 of order (last page) screen shot ? is it on portal now its shows in demand section aslo to pay tax ? we have last option as rectification with correct jason to upload but how to do on "new portal " we have to learn !

jain j (none) (99 Points)
Replied 05 July 2022

Got the same notice for adjustment.

I replied to them as "Disagree with the proposed adjustment"
Still, they issued a demand notice.

In some cases -
1. Even notice is not visible
2. Challan is not visible.

Bollywood alwyz (9 Points)
Replied 11 July 2022

Just rectify the returns with correct details they will process it. Don't worry

Vijay Nandaniya (Audit Manager) (77 Points)
Replied 11 July 2022

I have rectified the return and file a rectification return on 09/07/2022 and the same day they send an assessment order with the same data as given under assessment order u/s 143(1) all three clients get demand for Saving A/c Interest, Salary, Agriculture income (which is given in applicable head) around Rs.74500+

What to Do ?

Mayankkumar (study/TRP (Tax Return Preparers)) (191 Points)
Replied 11 July 2022

SAME HERE DEMAND HAS CREATED LET ME TRY RECTIFICATION AND LETS SEE IN MY CASE WAHT THEY DO THEN I WILL SHARE EXPERIANCE HERE ! ONE THING IS SURE THEY IGNORE OUR MANNUAL REPLY OF DISAGREEMENT AND PROCESS THE RETURN IN ALL CASE AND ADD IN THE INCOME TWO TIMES

jain j (none) (99 Points)
Replied 11 July 2022

Here is the solution that I am following -
Adding the income reported in 3CD to business profession and the deducting it back.

This option of adding and deducting must be available in your software in IFBP near additions and deletions to business.

Make sure that the total of "Any other item of income" in 3CD matched with Schedule OI - 5d.

I am uploading a rectification today, lets see how it works out.

CA CHIRAG RATAN JAIN (PRACTICING CHARTERED ACCOUNTANT ) (62 Points)
Replied 11 July 2022

Sir Did u Added Business Income In P & l & deducting below (like depreciation add & deduct) & if deducted then what head of deduction u taken from list kindly share the valuable information i got also same notice from department & i disagree with them & they have send me Demand & now i'm confused what to do.