#section 154

Rectification petition u/s 154 of the Income Tax Act, 1961 to be filed when there is a mismatch in prepaid taxes in order u/s 143(1) of the Income Tax Act, 1961 [Intimation order]

To, [Assessing Officer] [Address]

Subject: Rectification petition u/s 154 of the Income Tax Act, 1961 in case of [Name of Assessee] for the assessment year [A.Y.]

   PAN: [PAN]

Respected Sir,

This is to inform that as per the records of CPC/Demand Register there is a demand outstanding for Rs. [amount] for the Assessment Year [a.y.]. With regard to this we are hereby submitting the following…

Rectification of Income Tax Return, Related issues & Solution

Vignesh Iyer

Rectification has become easy since switchover to online but it has its own limitation. In this article I will be covering almost every point related to rectification in terms of:

Online request for rectification.

Required information before filing a rectification application.

Mistakes committed while filing a rectification.

Need for a proper system at your office place to avoid…

Demand U/s 143(1) by Income Tax Department & Rectification Thereof U/s 154

CA. Brijesh Baranwal

Income Tax Return filing season for certain class of assessees including individuals not falling under tax audit provisions has just been over and by now the Income Tax Department (the Department) has already started processing of these returns. In fact, return filing and processing thereof are an ongoing process for different class of assessees.

At times, income tax payers…

Sec 154 cannot be resorted for applying sec 115JB of the Income Tax Act,1961

CA Prarthana Jalan

In the case of Cardinal Drugs Pvt Ltd.Hon’ble ITAT has observed that there was no scope for the A.O. to have resorted to the provision of Section 154 of the Act for the purpose of enhancing the income of the assessee.by stating as under:- (more…)

Facts of the case show that the assessee filed return of income declaring net income of Rs. 24,14,640/- electronically on 21.10.2007. The return was processed u/s. 143(1) of the I.T. Act. The assessee noticed that credit for advance tax of Rs. 1,10,000/-…

Rectification application maybe filed u/s 154 of the Income Tax Act by the taxpayer in case of any mistake apparent from the record.

An Income Tax authority may:

a) amend any order passed by it under the provision of this Act

b) amend any intimation or…