Revised return ♦ very urgent

This query is : Resolved

Guest

Guest (Querist)

21 October 2013 Dear

I have filed ITR -4 for A.Y. 2013-14 on 11/09/2013 belatedly.

I have paid tax Rs.5000 for home loan purpose only.

but one mistake was committed in my return is that my bank balance was shown wrong.

and hence now bank denied to give me a loan due to wrong balance in return.

Now I want to revise my return For A.Y. 2013-14 so as to show a correct bank balance and to get loan from bank.

So kindly guide me for the same

It's too much urgent

How can I revise the belated return ?

Or any other remedies

Please help me for the same

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

21 October 2013 No you can't revise a belated Return....

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

21 October 2013 You can file an application to the AO mentioning the corrections in the belated return along with corrected account to be attached to the already submitted belated return.
if the tax liability that arise by corrections is not severe no need to worry about.

Upgrade to CAclubindia Pro. Subscribe Now!

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

21 October 2013 Dear Rakesh,

Unfortunately, you cant revise the return. Writing to AO won't help you in resolving the issue raised by the bank.

Guest

Guest (Querist)

22 October 2013 then
what should I do

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

22 October 2013 First of all please confirm me how did you file your return means through online or offline.

OM SAI SRI SAI JAI JAI SAI

Guest

Guest (Querist)

22 October 2013 Ive filed my return ONLINE through https://incometaxindiaefiling.gov.in/

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

22 October 2013 No you cannot revise the belated return.

Upgrade to CAclubindia Pro. Subscribe Now!

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

22 October 2013 Wait till your received 143 intimation and file rectification request 154 ther after through online

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

22 October 2013 Agree with GaneshBabu,
wait for the intimation U/S 143...

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 October 2013 Unfortunately, filing rectification won't serve his purpose as their still won't be any printable evidence of the correct bank balance.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

22 October 2013 I agreeing with all the above experts view but i giving following suggestion and it is only for the purpose of bank and their satisfy only.

Even though as per act in your case revised return is not valid,you filed original return through online means revised return shall be file through online only, so even though revised return not valid in your case the system and software of Income tax India shall accept the filing of revise return, so file revise return as well as you also have the printed copy for evidence of rectification also send ITR-V acknowledgement to the CPC but due to the revise return not valid in your case it shall not process further of such revise return as well as for your case processing is not important to you(Note: if due to revise if any tax payment liability arises then pay such tax also before to filing of revise return) then you didn't commit any mistake.

So in one word i saying even though revised return not valid due to the acceptance of filing of revised return by the system you file revise return and show this to the bank(Note: once again i telling you i considering the your requirement with the bank in mind and told this suggestion otherwise i also not suggest like this and suggests only 154(1) rectification)

Important note: Before taking of the above step or suggestion apply first analysis the why the difference arrived between the bank balance as per pass book and books if such difference can be adjust due to BRS adjustment then you can explain this facts to the bank and then they can satisfy, because of so many reasons the balance of bank account as per books and pass books may be differ. If you totally failed means the difference not due to the BRS adjustment then follow the suggestion above i said. As well i as i assuming you may not have any problem due to the following of above suggestion.

OM SAI SRI SAI JAI JAI SAI

Message likes : 1 times

Upgrade to CAclubindia Pro. Subscribe Now!

Guest

Guest (Querist)

23 October 2013 Thanks to all the Experts