Questions Intimation Notice under 143(1)a

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Vipin Ambedkar

Category : Intimati.., How to c..,

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January 29, 2019 9:36 am

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Intimation Notice under 143(1)a

Hi sir,
My friend name is jitendra kumar , In ay 2018 -19 he filing itr1 with form 10e by CA
Income tax department has sent intimation u/s 1431a outstanding demand 16920₹ on date 12/12/2018 .my friend share this case with me .i saw the form 10e that CA putting the wrong amount relief claim u/s 8...

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Amlan Dutta

You have yourself already identified the mistake , the difference amount is what the department is claiming ...check whether the form 10 E figures under salary arrears is actually 15478 or the employer made a mistake Why has the CA put in 32513 Rs....Typically some do such false figure represent...

January 29, 2019

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Moin Shaikh

Category : Intimati..,

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December 26, 2018 4:43 pm

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Intimation Notice under 143(1)a

I file ITR 2 In that in STCG i enter losses from equity (Delivery and Intraday) but i got notice from the department I also add photograph of form and notice related to schedule STCG so please see that and guide me.

deepak

deepak

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deepak

sir u r gr8

December 27, 2018

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Amlan Dutta

Moin, the way in which you have presented the losses is wrong and is therefore not being accepted by the department ......

Let me help clarify with a example ...............

Say, I buy some stock for 100 and prices fall down and i have to sell for 80 , i incur a loss of 20

How do I show this loss of 20 Rs
First, i have to show the sale price (i.e Full value of consideration) as Rs 80 ,

Next, I will put in cost of shares i.e cost of acquisition i.e
100 Rs
So, the Loss = Sale price - Cost price = 80 - 100 = - 20 Rs is arrived at and this calculation is done by the return itself ...you are not supposed to write the loss directly ...you just put in sale price and cost price and let the return arrive at profit /loss as the case may be

What you have unfortunately done is directly put the loss of Rs 20 in cost of acquisition , which is not right ...

The department in its assessment is also trying to hint at the same thing i.e that the assesse is stating that he has sold stocks for 0 Rs ( i.e you have shown the sale price i.e the full value of consideration as 0 rs ) but is trying to claim expenses (i.e you are trying to claim losses in cost of acquisition where you are actually supposed to fill cost ).....
This is not possible i.e selling something for 0 and showing cost ( loss) as expenses and so they are disallowing it ....what it bizarrely means you have not sold anything and still have arrived at profit /loss which is not possible ...once you sell only, then based on whether the sale price is more than the cost , loss/ profit can be determined

To correct this , as you can see, you have been given options to file a revised return computing loss as i have indicated by first putting in sale price and then deducting cost to let the return compute the net profit or loss

( Note, it is good that the department doesn't know that you have done intraday else things would have been worser ...CG schedule is not applicable for intraday ..it is just for delivery ...you have to show delivery under Capital gains and intraday under business if you want to file correctly While revising using section 139(5), you may want to take this into account )

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December 27, 2018

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Amlan Dutta

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December 27, 2018

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deepak

sir u r gr8

December 27, 2018

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Dilip dwivedi

Category : Intimati..,

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October 12, 2018 8:00 pm

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Intimation Notice under 143(1)a

Hi...amlan sir
Gd evening...
I'm already inform u that i have got demond intimation for AY2018-19 rs 3790 but I filled revise itr instead of pay demonds with refund of rs 4120. Then I have got second demond notice 143(1)of rs 60..and according to u I have pay direct tax by choose epay tax option bec...

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Amlan Dutta

1.) Not sure why the incorrect demand reflects in your worklist, you can disagree to demand selecting proper option and raise a e grievance to get it removed

2.) The demand taxes paid will appear in your tax credit statement o.e 26 AS after a few weeks

3.) We submit rectification request when we f...

October 12, 2018

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G N Sah

Category : Intimati..,

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October 11, 2018 9:50 pm

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Intimation Notice under 143(1)a

I filled Income Tax for AY 18-19 and have got notice 143(1)a. I had arrears in my income for which i filled 10E form. But IT department has not considered 89(1) relief and they have asked me to pay more tax. I have enclosed 10E form and intimation notice 143(1) for your reference.
Plz suggest how to...

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Amlan Dutta

If form 10 E had been correctly filled ( assessment year expected in place of previous year ) then proceed with submission of rectification request of intimation selecting option "reprocess of case" and then disagree with demand selecting "rectification filed with AO"...note that this is my opinion ...

October 11, 2018

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G N Sah

Dear Amlan,
In the previous years column of 10E form, I have mentioned FY 2015-16 and 2016-17 not assessment years. Is this the reason for not considering 89(1) relief ??
If so, knidly suggest how to respond to them now.

October 12, 2018

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Amlan Dutta

You will now fill up form 10 E again correctly and submit it and after that submit for rectification under option " reprocess the case"...then disagree to the demand stating that the rectification has already been raised.

October 12, 2018

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G N Sah

Dear Amlan,Thanks for ur suggesion.

October 13, 2018

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G N Sah

Dear Amlan,

To reply for the demand notice, which option I should select now from the list (snapshot already attached earlier).

Kindly suggest.
Thanks

Dear Amlan,<br /><br />To reply for the demand notice, which option I should select now from the list (snapshot already attached earlier).<br /><br />Kindly suggest.<br />Thanks

October 13, 2018

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Amlan Dutta

After you submit rectification , what should be the option be - obviously rectification filed with AO ...if i have to type every thing , same questions will flood my site even after years of work ...until the thinking process is set right i wont be able to keep answering ...here , the logic is simpl...

October 13, 2018

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