How do I respond to section 245?
If you do not agree with the outstanding demand, then simply log onto www.incometaxindiaefiling.gov.in with your user id and password. Go to ‘e-file’ tab – > Response to outstanding demand – > Submit response – > Demand is partially correct/Disagree with demand – > Submit.
How do I adjust my demand for my tax refund?
If any refund is due, the refund will be adjusted against the outstanding demand. The taxpayer can pay the demand by clicking the link under ‘Pay Tax’ option. On choosing ‘Demand is partially correct’, Enter the ‘Amount which is correct’ and the ‘Amount which is incorrect’ will be auto filled.
How do I know if my refund is adjusted against demand?
Response can be made by logging into https://www.incometaxindiaefiling.gov.in with your user id and password. Go to ‘e-file’ tab-> Response to outstanding demand. a) Against the Outstanding Demand- click on ‘Submit response’ and then select->’Agree with Demand’.
What happens if we do not respond to income tax notice?
Bohra says, “Non-compliance can lead to a penalty of Rs 10,000 for each failure to respond. If you don’t respond, the tax office can also complete the assessment ex-parte.” Section 143(3): Once the assessment is completed, the order is issued under Section 143(3).
How do you respond to outstanding tax demand?
Log in to e-Filing portal and click Pending Actions > Response to Outstanding Demand and you will be taken to Response to outstanding demand page. If there are demands outstanding against your PAN, the current status against each of the past / existing outstanding demands will be updated as Pending payment / Response.
How do you pay outstanding income tax?
Pay Tax Online
- Step-1. To pay taxes online, login to http://www.tin-nsdl.com > Services > e-payment : Pay Taxes Online or click here on the tab “e-pay taxes” provided on the said website.
- Step-2. Select the relevant challan i.e.
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What is the meaning of income tax notice u/s 245?
Section 245 of the Income Tax Act empowers the assessing officer (AO) to adjust the refund (or a part of the refund) against any tax demand that is outstanding from the taxpayer. In simple words, the IT department wants to adjust the refund due against a demand due from you.
Can I file revised return after ITR processed?
If you notice a mistake in your submitted ITR, and it has not processed by CPC, you can submit a revised return. You can use the rectification request service on the e-Filing portal only against an order/notice from CPC. 9.
When can a return be rectified?
Revised return can be filed before completion of assessment or before the end of the respective assessment year whichever is earlier. However, rectification can be filed after processing of return or after receiving intimation u/s 143(1).
How old ITR can be scrutinized?
What is the time limit for issuance of notice u/s 143(2)? A notice u/s 143(2) for scrutiny assessment can only be issued up to a period of six months from the end of the financial year in which the return was furnished by you.
How many years income tax records should I keep in India?
Period of Limitations that apply to income tax returns
Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
How do I check my outstanding demand status?
Outstanding Tax Demand Status
- Go to the ‘e-File’ menu, Click ‘Response to Outstanding Demand’.
- All outstanding demands will be displayed here. Click on ‘View’ hyperlink under ‘Response’ column.
Can I file revised return after demand notice?
How to check outstanding tax demand?
How do I respond to outstanding tax demand?
Step-by-Step Guide to Respond to a Demand Notice
- Step 1 : Login to your e-filing account on www.incometaxindiaefiling.gov.in with user ID and password.
- Step 2: Click on ‘E-file’ and go to ‘Respond to Outstanding Tax Demand’.
- Step 3: Click on ‘Submit’ for the relevant assessment year.
- Option 1 – Demand is correct.
What is refund kept on hold intimation u/s 245 is issued proposing adjustment of refund towards outstanding demand?
What is the penalty for wrong ITR filing?
The rate of penalty shall be fifty per cent of the tax payable on under-reported income. However, in a case where under-reporting of income results from misreporting of income, the taxpayer shall be liable for penalty at the rate of two hundred per cent of the tax payable on such misreported income.
Can I file ITR for last 6 years?
For such applications, the returns must be filed within a period of six years from the end of the assessment year for filing the return. For example, if you have missed filing returns on the due date of 31 March 2021, you can file such an application until 31 March 2026.
What is the time limit for rectification of mistake?
Time-limit for rectification
In case an application for rectification is made by the taxpayer, the authority shall amend the order or refuse to allow the claim within 6 months from the end of the month in which the application is received by the authority.
How many times we can file rectification?
You can file another Rectification ONLY once the previous one is processed in CPC. You will get an Order u/s 154 once the Rectification is processed. To view the status of your e-Filed Rectification, LOGIN and GO TO ‘My Account’ → ‘Rectification status’.
Can I file a tax return from 10 years ago?
Even so, the IRS can go back more than six years in certain instances. Unfortunately, there is a limit on how far back you can file a tax return to claim tax refunds and tax credits. This IRS only allows you to claim refunds and tax credits within three years of the tax return’s original due date.
How are cases selected for scrutiny?
Income Tax – Most of the cases selected for Scrutiny are through Computer Aided Scrutiny Selection (CASS). Only a particular class of cases such as those involving Search, Survey and Reopening of Assessment etc. come under Compulsory Scrutiny.
How do you pay outstanding tax demand?
3. Step-by-Step Guide
- Step 1: Log in to the e-Filing portal with your user ID and password.
- Step 2: On your Dashboard, click Pending Actions > Response to Outstanding Demand to view a list of your outstanding demands.
- Note: If you wish to pay the demand, you can click Pay Now to pay a demand.
How do you respond to a demand notice?
What is the time limit for revised return?
The revised return for assessment year 2020-21 can be filed,on or before 31 December 2021 or completion of assessment of the original return, whichever is earlier.