Interested to Buy Any Domain ? << Click Here >> for more details...
In a case one company has paid surcharge of Rs100000 by
mistake. What are the remedies available to the companies.
- 3 Answers
- 6443 Views
- M&M Associates, I also Faced
- E-Mail Answers
Answer Posted / balaji.s.
Possible remedies are:
1. File a revised return rectifying the mistake.
2. If Assessment is finalised, then assessee can apply to IT
officer who has done assessment requesting to pass amended
order.
Income tax act:
Rectification of mistake.
154. 2[(1) With a view to rectifying any mistake apparent
from the record3 an income-tax authority referred to in
section 116 may,—
(a) amend any order passed by it under the
provisions of this Act ;
4[(b) amend any intimation or deemed intimation
under sub-section (1) of section 143.]]
5[(1A) Where any matter6 has been considered and decided in
any proceeding by way of appeal or revision relating to an
order referred to in sub-section (1), the authority passing
such order may, notwithstanding anything contained in any
law for the time being in force, amend the order under that
sub-section in relation to any matter other than the matter
which has been so considered and decided.]
(2) Subject to the other provisions of this section, the
authority concerned—
(a) may make an amendment under sub-section
(1) of its own motion, and
(b) shall make such amendment for rectifying
any such mistake which has been brought to its notice by the
assessee, and where the authority concerned is the 7[***]
8[Commissioner (Appeals)], by the 9[Assessing] Officer also.
Source:
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=26661dcf-4f92-49de-9680-252113fcc78d&rdb=sec&yr=d8867f97-7ef9-423c-99df-7ef492ca882f&sec=&sch=rectification&title=Taxmann%20-%20Direct%20Tax%20Laws
Rectification of mistakes.
269N. With a view to rectifying any mistake apparent from
the record, the competent authority may amend any order made
by him under this Chapter at any time before the time for
presenting an appeal against such order has expired, either
on his own motion or on the mistake being brought to his
notice by any person affected by the order :
Source:
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=a2d2b41e-8d5c-466e-ad0d-807c3e5fba14&rdb=sec&yr=d8867f97-7ef9-423c-99df-7ef492ca882f&sec=&sch=rectification&title=Taxmann%20-%20Direct%20Tax%20Laws
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
When and how Wct is applicable on Labour Job Work and what is the percentage?
What is VAT TDS? when it is applied & at what rate?
What is total income?
Dear Sir/Mam Please send me a return under delhi vat for learning purpose Thank & Regards Sonu Kumar
explain the special provisions for computing profit and gains of retail business
Rules for filling Income Tax return for a MNC?
WHAT IS COMPOSITION RATE IN Andhara pradesh SALES TAX?
what is procedure of calculation of TDS by bank?
We made full payment to contractor and forget to deduct TDS on that.Now contractor ledger is fully settled and we have to pass the TDS entries on that. Kindly guide rectify the entries on tds
I have transfered the goods in F-Form (i.e. from one state to another) but now the problem is when I have sold the material in the Local market say for 100+tax=100tax, some of the material got defective say 50+tax=50tax. We will have to issue F-form of how much ??? 100 or 50. Kindly send me the same to my mail address - u15326@rediffmail.com
please tell me how to take stock (not enter in purchase) in Tally ERP 9 in Case the goods recived against from FORM 38 The Company sent me consignment for sale on behalf commisson & after sale he want FORM F. so please tell me procesure of TAke the Stock in Tally for the Created Sale Invoice & Tax Invoice. Thank You
What are the deductions under salary head?
IF MATERIAL TRFD. TO OTHER STATE BRANCH AS STOCK TRFD. IN FEBRUARY AND MATERIAL IS RECEIVED BY BRANCH IN THE M/O MARCH. THAN SHOULD WE ISUE A SEPARATE F FORM FOR THE M/O FEBRUARY AND MARCH
Please guide us about Forms and where is it will use i.e.Form C, Form h, Form F. if other form has please guide us about of that Forms?
Physician samples should be charged under CST @ 5% manufactured in H.P. and transferred to other states
