It return - revised (original filed after due date)
my friend filed wrongly ITR after due date now he wants to correct it by filing revised but it is not accepting due to 139(5) section. when I searched about 139 (5) original should file before due date to revise any return. what is the solution for this, how to resolve his problem. kindly give advice. thanks venkatesh
Guest
As per section 154 of Income Tax Act it reads as under
With a view to rectifying any mistake apparent from the record, an income-tax authority referred to in section 116 may,—
(a) amend any order passed by it under the provisions of this Act ;
[(b) amend any intimation or deemed intimation under sub-section (1) of section 143;]]
[(c) amend any intimation under sub-section (1) of section 200A.]
It doesn't cover any the situation under which Income can be modified.
Guest
It would depend on the mistake that has been made. If there is an income that hasn't been considered but the same is reflecting in 26AS or is obvious from some other record (for e.g., amount deducted from PGBP that needs to be shown as income from other source but omitted), it can be rectified.
However, it won't allow you the freedom to change everything like a revised return.
Guest
My name is Adit with a T.
A deliberate attempt to conceal income is different from mistake made by assessee. If that were the case, the law wouldn't allow revised returns or rectifications. It would need to be proved in the first place that the income was intentionally concealed by the person.
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