Not yet as online rectification is still not available on new Income Tax website, so I am waiting for that facility to get available. Meanwhile, I have replied to the tax demand notice to recalculate tax computation considering 4-digit challan number with leading zero to give tax credit and take back demand notice.
Hi Gaurav
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Is there an option to file revised return by entering 5 digits in this case or only rectification is the option
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Did schema validation process throw any error while uploading the return with 4- digits
I have similar issue but didnt verify the return yet , so tryign to understand the options if this 4 digit vs 5 digit is going to result in mismatch
Hi Gaurav - has there been a closure to this based on your reply
There is now rectification option on the new Income Tax portal, however, it gives an error when we try to request for rectification for AY2020-21. I have filed the grievance for that. Unless, all glitches related to rectification are fixed, I do not think that any rectification can be made. We have to keep on checking on regular basis and better to file grievance to be at a safer side.
I have received a letter from ITD. It states it is issued u/s 143(1). Is it a notice?
Intimation u/s 143(1) is not a Notice but a communication received from the income tax department. Once you file the income tax return, the income tax department does a preliminary assessment. This includes verifying arithmetical errors, any incorrect claim in the return, difference in tax calculation, verification of tax payment etc. The system sends the intimation to the registered email of the assessee.
Hope this helps!
Hey @philipaj
For AY 2021-22, the due date to file Income Tax Return was extended to 31st December 2021 in non-audit cases and 15th February 2022 for audit cases. You have filed ITR for AY 2021-22 and AY 2020-21 within the due date.
If you have filed the original ITR u/s 139(1) before the due date, there is nothing to worry. You can carry forward the loss even if the ITR was revised. This looks like an error from the end of income tax department. They have sent system-generated notices to many taxpayers with the same query. You should submit a response to the tax notice from your account on the income tax website requesting them to re-process the ITR and allowing carry forward of loss since the original ITR u/s 139(1) was filed within the due date. Further, also raise a grievance for the same.
I have received Incorrect claim u/s 143(1)(a)(ii) Adjustments u/s 143(1)(a) notice: Which says Schedule BP and P&L - In Income Tax Return = 11602 Amount in ₹ As Computed = -32985 Variance = 44587. What does this mean? Negative P&L ? Would this attract Tax or Penalty?
I had traded in Futures and the turnover was less than 5 Lacs and incurred a loss after taxes / stamp duty etc. But I did not claim the loss and instead showed profit before tax.
I can see that in return filed - The Profit after tax(53 - 54 - 55) = -44588 but in - Profit before tax as per profit and loss account (item 53 ,61(ii), 62(ii), 63(ii), 64(iii) and 65(iv) of P&L) = 11602. Can you please help me understand this.
Would there be any penalty? or demand?
Hey @Walkie, please share your contact details with us at help@quicko.com so we could better help you.
What can be the reason for the notice issued u/s 143(1)(a)(iv)?
Hi @emmy
Notice under section143(1)(a)(iv) is issued when an expense has been incorrectly claimed in the ITR filed. If an expense is disallowed under the audit report but the assessee claims it in the income tax return. Notice under section 143(1)(a)(iv) is issued to disallow such expense.
In my ITR I claimed deduction u/s 80RRB which is later disallowed by ITD in notice under section 143(1)(a)(iv). What might be the reason?
Hi @emmy
It might be the case that you filed Income Tax Return after the due date prescribed u/s 139(1). Thus in such case you cannot claim certain specified deductions (Sec10AA and Sec 80H to Sec 80RRB under chapter VI-A). Since, you have claimed such deductions, the tax department has issued a notice u/s 143(1)(a)(v).
I am a salaried individual trading in F&O. I have filled my ITR 1 and did not report F&O as I had incurred loss in it. Now I have received intimation 143(2) from income tax asking me to clarify my derivative returns.
How do I respond to income tax intimation ?
Hey Yatrik,
As you have received the 143(2) , you need to reply with the facts to the Jurisdiction officer stating reasons for not including the same in the ITR.
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Originally published at: Intimation u/s 245 of Income Tax Act - Learn by Quicko
The Income Tax Department sends notices to the taxpayer for a variety of reasons. The Intimation under Section 245 of the Income Tax Act is sent in case of outstanding demand. In simple words, if a taxpayer has an outstanding tax liability of a previous financial year, the Assessing Officer (AO) can adjust such a…
Hi @emmy
You can follow the steps given to submit a response to the IT Department
- Firstly, login to the income tax efiling portal using your ID and password
- Click on e-File > Response to Outstanding Demand
- Click on the Option to “Submit” if you wish to respond to this notice.
- Clicking on submit would take you to a different screen where you will be asked to choose from one of the 4 options as shown below.
- Demand is correct
- Demand is partially correct
- Disagree with Demand
- Demand is not correct but agree for adjustment
- Select the applicable option and submit
Hope this helps!
I have received an intimation for a mismatch in data. I do not agree with the data as per ITD. What should I do?
Hi @emmy
If you do not agree to mismatch in intimation issued, then you can opt for Reprocessing of his ITR form on Income Tax e-filing portal.