Wrong assessment year in advance tax.

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Hi,

 

I had income from other sources for the financial year 2015 - 2016 and paid the advance tax accordingly with interest wherever applicable.

 

While paying the advance tax, I chose wrong Assessment year( 2015 - 2016 ) instead of 2016 -17. Now, I have received an intimation from IT department, regarding non-payment of tax.

After searching a while on google, I found that I need to submit rectification of my return under section  154.

The notice given by IT department, have more tax applicable due to interest pending from last year than what I paid at that time, according to the interest at that time.

Now my question is, will IT department, readjust the interest till the time I paid advance tax ( with wrong assessment year ) or include the interest till this date?

 

Replies (4)
 You can correct the details in the challan 280 by

1.Submitting a letter to your Income Tax Assessing Officer in the specified format.

2. You can send it through post, but it’s better if possible visit personally and submit the letter. 

3.Also get  acknowledgment on another copy of the same letter
yes Rashmiji is correct

Thanks, Rashmi!!

Welcome pleasure is mine

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