11 September 2012
sir when can be a return revised or rectified? a belated return can be revised or not ? when can be a return rectified? advice me thanks.
11 September 2012
1. Revised return is filed u/s 139(5). A return is revised when there is some error in the return. FOr instance the assessee has forgot to claim deduction/exemption/tax credit etc.
2. A belated return CANNOT be revised.
3. A rectification application is filed u/s 154 for rectification of mistake apparent from record.
Rectification application is filed when there is some error in the processing of return by the department. For example, the department has not allowed credit of TDS/advance tax etc.
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