What is the present position of Rectification of mistake in an intimation sent to an assessee?
With effect from 1st June, 1999 the Law provides that an Income-tax Authority may rectify any intimation under section 143(1) under section 154 of the IT Act' 61.
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Specimen application for rectification u/ft 154
To,
The Assessing Officer,
Circle......... /Ward.............
City:...................
Sir,
Ref. : Shri.............. (Name of the Tax payer)
PANo........ /GIRNo.......... A.Y..........
Sub : Rectification u/s. 154 Kindly refer to your intimation u/s. 143(l)/assessment
u/s. 143(3) dated... in respect of A.Y. referred to above, wherein a sum of Rs ...has been shown as tax due.
On scrutiny of my records, I find that the following has not been considered while preparing the tax demands in the intimation/assessment order.
**1. In respect of N.S.C./Infrastructure Bonds purchased for Rs……………….. on ………………………..
*2. In respect of PPF of Rs OR UUP/LIP of Rs......................
*3. As the Law has been amended retrospectively w.e.f. 1.4.95 regarding allowability of interest on borrowed capital for construction of house-property.
*4. I also find that credit has not been allowed in respect of TDS/Advance Tax amounting to Rs……………….
*5 .......... (specify here any other claim)..............
The certified photocopy(s)/originals in support of the above claim(s) are attached herewith for your kind perusal with a request to kindly rectify the same, as it is a mistake apparent from record.
Yours sincerely.
(Signature of the Tax payer) Address: