Assessee firm has made declaration under IDS for A.Y.2015-16 amounting to Rs. 3.30 cr. and has paid the installment of tax due on 30.11.2016, 30.03.2017 and 30.09.2017 , however due to mistake of CA , there was shortfall of Rs. 1313000/-, which he has paid on 3.10.2017. The assessee thought he had made the compliance of IDS. since the all the mail id of CA was given , assessee was not aware of the shortfall and proceedings completed by the AO U/Sec.147 r.w.s.144 r.w.s 144B on 22.03.22 , where in AO has taxed the entire amount disclosed under IDS amounting…
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The à declared under IDS but the taxes not paid. Notice U/s 148 issued. The declared amount vin Form 1 is treated as undisclosed income. Kindy guide how to proceed? Regards
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Assessee firm Made a declaration under IDS 2016 disclosing regular income for AY 2016-17. However, could not make payment 3rd installment. On the basis of invalid declaration of IDS , 147 notice for AY 2016-17 was issued and assessment was completed by considering the income declared under IDS -2016. Assessee filed an appeal against the said order and since appeal was pending , opted for VSVS and complied with all conditions and also received form 5. Again notice u/sec 147 is issued on 31.03.2020 for AY 2017-18 on the ground of invalid IDS declaration. Whether action of AO is justified…
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Assessee firm has filed a declaration under IDS where in they have disclosed for AY 2015-16: Rs. 9,82,24,010/- as Business Income and For AY 2016-17: Rs. 1,15,04,953/- as Business Income. In the said declaration the assessee firm claimed the credit for the Advance Tax and TDS for both the assessment year. However CIT has denied the credit for the said payment on the ground that it is not permissible to give credit of advance tax in IDS. On the basis of this information the AO issued Notice U/Sec.148 for A.Y. 2017-18, on the ground of Invalid declaration due to non payment…
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Invalid IDS- declaration and assessment u/sec.143(3) r.w.s 147 of the Act.