04 March 2016
one of my frnd running a business his total T/O in FY 2013-14 is above 1crore and he got audited and filed a I.TAX return. in that year his tds was 95000/- and he claimed a refund for 4000/-and 4000/- refunded to him. but now he found some mistakes in his P/L account.. he is saying that his profit was shown very high now he want to reduce his profit and claim more amount from his tds... can he do this.. if yes than how?
04 March 2016
Dear As per income tax act itr for Fy 13-14 can be revised upto 31/03/2016.or up to the completion of assessment whichever is earlier. Hence in your case the refund has been given I.e assessment is complete So you can not revise the return at all.
CAclubindia
