I received a demand notice for income tax filed for assessment year 2023-24 due to a tax credit mismatch. It claimed that I hadn’t accounted for all the receipts listed in my Form 26AS. The mismatch was due to a system error that had counted a house property sale receipt three times due to a transaction reversal. Is there a platform to bring this discrepancy to the attention of the tax department?
Amit Maheshwari, Partner, AKM Global, answers the query: We understand that you have received the demand notice under Section 156 of the Income-tax Act, which appears to have been issued erroneously by the tax department due to multiple transactions.
To address this issue, you can submit a rectification request via the income-tax portal, in accordance with Section 154 of the Act. This can be done within four years of the end of the financial year in which the order sought to be rectified was passed.
You also need clarity regarding the forums where you can escalate the matter. To ensure effective resolution, we recommend resending e-mails to the jurisdictional tax officer’s e-mail address, outlining the issues comprehensively and providing appropriate documentation.
You can get the e-mail ID of the respective tax department official by logging into the e-filing portal and checking the jurisdiction details. You also have the option to register your grievance through the tax portal. Seeking professional assistance is advisable to ensure proper resolution through appropriate channels.
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