I have received 143(1)(a) intimaiton demand for ITR3 filed for AY 22-23 now. The ITR is still showing in processing state. The data uploaded in Jason format has overwritten my Zero income form self occupie dproperty to sam evalue of rent coming from let-out property. Du eto this there is mismatch is tax calculation. How should I respond to this by filing a revised return and if so it will be under which u/s in ITR?
Ans: Step 1: Verify the intimation demand
The first step is to verify the intimation demand to ensure that it is accurate and that you have indeed received a demand for additional tax. You can do this by checking the following:
• The assessment year (AY) and return type should match the ITR that you filed.
• The demand amount should be accurate, based on the mismatch in tax calculation as identified by the Income Tax Department.
• The intimation demand should be issued by a valid Assessing Officer.
Step 2: File a revised return
Once you have verified the intimation demand, you should file a revised return to correct the error in your original return. To do this, you can follow these steps:
1. Go to the e-filing website of the Income Tax Department.
2. Log in to your account and select the "Revised Return" option.
3. Select the AY and return type for which you are filing the revised return.
4. Enter the required details and upload the revised JSON file.
5. Verify the details and submit the revised return.
Step 3: Pay the additional tax
If there is any additional tax payable after filing the revised return, you will need to pay it within the specified time period. You can make the payment online through the e-filing website or at a designated bank branch.
You should file the revised return under Section 139(5) of the Income Tax Act, 1961. This section allows you to file a revised return within one year from the end of the relevant assessment year.
