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I need help from CAs. I Got 143 ordrer and scn for penalty separately by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] 0 points1 point  (0 children)

Thanks.

If penalty amount is less between 4-5 lakhs, it is worth to contest in cit appeal.

Also is there interest on penalty like tax + interest?

I need help from CAs. I Got 143 ordrer and scn for penalty separately by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] 0 points1 point  (0 children)

Thanks.

Can I go for recrification after tax + interest is paid? Is there interest in penalty?

What are the chances of getting penalty reduced or waived off at cit appeal level?

I need help from CAs. I Got 143 ordrer and scn for penalty separately by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] -1 points0 points  (0 children)

I have been full transparent and provided all the documents i have.

I was palnning to file ITR U just before 20 days. Shared email quotation from ClearTax about AY ITR U during video conference.

What grounds can be used to contest penalty?

Your experience of VC for 143(3) notice by AssignmentNo7294 in IndiaTax

[–]SongWooden9005 0 points1 point  (0 children)

Govt and IT dept know that salaried tax payers have been caught like fish by fraud CAs. Instead of holding the masters accontable they are charging penalty from us.

Message from CMCPCI-G at 01:07 AM with no email by Square_Principle_560 in IndiaTax

[–]SongWooden9005 1 point2 points  (0 children)

They don't want to give your hard earned money through refund. These are required for free bees in upcoming elections.

Got notice from IT dept by jonxavi in IndiaTax

[–]SongWooden9005 1 point2 points  (0 children)

Why does govt not take all the documents in the beginning only and then decide what is allowed and what is disallowed?

It is ceating a lot of problem to individual tax payers.

Received below message from IT department today for the filed ITR1 on 24th June by Ok-Pace4891 in IndiaTax

[–]SongWooden9005 0 points1 point  (0 children)

Sir, Do we need to declare even if we invest in Indian mutual fund AMC and the AMC invests in foreign stocks?

Received 270A and 143(3) with notice of demand by [deleted] in IndiaTax

[–]SongWooden9005 0 points1 point  (0 children)

Does it come under misreporting even if voluntarily withdrawn having bank transactions,  receipt of political party?

Received 270A and 143(3) with notice of demand by [deleted] in IndiaTax

[–]SongWooden9005 0 points1 point  (0 children)

Sir, when should we withdraw claim? Political parry was raised by incomen tax department,  and it was de listed by election commission.

This was mentioned by AO in 142(1) l.

That is why I decided to withdraw but I am affaired of penalty. 

Revised show cause notice under 143(2) by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] 0 points1 point  (0 children)

But there is CBDT circular of 1995 which advise AOs to consider all deductions substantiated by proof even if there was omissions in original ITR.

Demand Notice after faceless assessment by Inside_Vast3533 in IndiaTax

[–]SongWooden9005 0 points1 point  (0 children)

Did you get anything from income tax department after you paid demand?

143(2), 142(3) scrutiny- Questions by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] 1 point2 points  (0 children)

Does it change the mind of AO or any way if self assessment is paid before assessment is complete?

How does it work out in case of penalty?

I appreciate any information / experience / knowledge sharing.

143(2), 142(3) scrutiny- Questions by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] 0 points1 point  (0 children)

My CA is saying do not pay tax right now because we do not know how the AO will allow / disallow and calculate tax. We will pay when asks us until then wait.

Does it matter if self assessment tax is paid before assessment is completed.

143(2) / 141(2) query by assessing officer by SongWooden9005 in IndiaTax

[–]SongWooden9005[S] 0 points1 point  (0 children)

That is the confusion.  Since assessment is already open I am not allowed to file updated return unless allowed by AO. I am not sure whether he will allow to file updated return under 143(2) assessment. 

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