ritesh
(Querist) 13 January 2015
This query is : Resolved
I had filed an ITR of a small society showing excess of receipts over expenditure of Rs. 5000. As per IT Act, individual tax rate is applicable on any AOP etc. Thus this amount is under basic exemption limit. But as per intimation u/s 143, department has calculated tax demand on this amount @ 30%. Then I made a rectification request for recomputing the tax. But again they are calculating the same amount. so If anybody can help me how to get it rectified.
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