Re: Disputed Tax query
An appeal is pending before the CIT(A). However at the time of appeal the demand was at Rs. 60,00,000/-. After 10 days a rectification Order u/s 154 was passed wherein the TDS Credit of Rs. 15,00,000/- was allowed. So my question is whether in filing of Form 1 the disputed tax will be Rs. 60,00,000/- or Rs. 45,00,000/-. If 60,00,000/- then how we will show the payment of Rs. 15,00,000/- (TDS) in the column of taxes paid. If Rs. 45,00,000/- whether my application will be rejected. Thanking You.
Please refer circular No.9 dt. 22-4 -2020 Q .No. 50 and answer given by the CBDT , in case the demand has been reduced partly or fully ,the demand payable will be adjusted . The Application will not be rejected . In the form TDS deducted will have to be reduced and balance amount will have to be shown as tax payable . The assessee can also contact the Designated Authority they will guide the assessee by verifying the record.
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