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Mihir Tanna |1043 Answers |Ask -Follow

Tax Expert - Answered on Jul 25, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Question by Keshavamurthy on Jul 21, 2023Hindi

While filing my IT Return for AY 2023-24, I had made a self-assessment and paid the balance amount and mentioned the details in the return. However, when mentioning the five-digit challan number in the return, the first two digits did not get recorded. Only the last three digits appeared on the return. ITO did not accept the return and demanded payment of the amount already paid. I was advised to file a revised ITR under 139(5). I am not able to do this. Could you helo me please?

Ans: In case of error/omission, taxpayer can file revised return. If you file online ITR, you will find option in General Information tab - "Filing status". You can select "139(5)

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Mihir Tanna |1043 Answers |Ask -Follow

Tax Expert - Answered on Nov 02, 2022

Question by Krishan - Nov 02, 2022Hindi

I have filed my ITR-1 for AY 21-22 in time. Demand was raised on 14 Jan for Rs 1,690 on processing of my ITR. a) I have paid the amount on 27 May, 2022 through net banking against challan no 10574. BSR code 0510308. I have erroneously paid Rs 1,690 in serial 300 (self-assessment) instead of SL 400. The amount remains to be shown outstanding in mine account and acceptance of return remains pending. I have tried to correct the SL 400 through my PAN account but I have not been successful in changing serial. In rectification icon this amount of Rs 1690 is not shown because only payments prior to submission of ITR are only shown. However, this Rs 1,690 is shown in it is shown in 26As. So I have not been able to change to SL 400 instead of SL 300. b) I requested for reprocess of ITR so that this amount may get reflected and ITR will be accepted. After reprocessing request amount has been reduced to Rs 1,230. But ITR has not been accepted. It is showing with additional interest of Rs 108 as on today. c) Additionally Rs.1690 + Rs 112 has been deducted from refund of next year return on 14 September 22. This is also reflected in 26AS d) Therefore I have paid Rs1690 through net banking challan plus Rs 1,690 through deduction from refund plus Rs 112 as interest. Total payment made 1,690+1,690+112 = Rs 3,492. Whereas I am required to pay only Rs 1,230. e) ITR still outstanding and not accepted till date and amount of Rs 1,230 is reflected unpaid. Sir my query is: a) Am I required to pay amount Rs 1,230 + interest? After the re- processing, despite having paid Rs 1,690 against initial demand by net banking plus there has been deduction from refunds. i.e. twice if I ask for re-processing? b) Now that amount has been paid. What action I need to take to complete the processing of ITR.

Ans: If tax demand is paid after 30 days, income tax charge interest @1%. I understand that Rs 112 is interest charged for late payment of tax demand and all other demands are not valid. Such demand can be deleted by filing application u/s 154 of the income tax act.

Check e-filing portal “outstanding demand” tab. If rectification rights are with CPC, you can request CPC Customer Care to transfer ITR to assessing officer.

Once the case is transferred, you can explain the issue to jurisdictional officer, request officer to pass rectification order as mistake is appearing from records and issue refund for wrongly adjustment of next year refund.

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