Home loan interest

This query is : Resolved

Rupesh (Querist)
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05 April 2012 Respected experts,

I filed my return on 29.03.2012 due date of return was 31.07.2011. But by mistake I have not mention the Home loan interest effect of this is my refund make less. How can I rectify this mistake although I have already submit the return after due date and I can not submit revised return.

regards,
Rupesh

Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)
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05 April 2012 Though you can not revise the return because it is filed late but you can correct it u/s 154

CA Kishore Tallam

CA Kishore Tallam (Expert)
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05 April 2012 But section 139 prevails over 154. Hence, belated return cannot be revised.

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Rupesh

Rupesh (Querist)
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05 April 2012 This mean I can not rectify u/s 154

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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05 April 2012 No you cannot file a rectification application. Rectification is for a mistake apparent from record.

Claiming deduction for interest amounts to making NEW CLAIMS which do not fall within the perview of rectification.