Audit U/S 44AB

This query is : Resolved 

07 October 2010 1. If an assesse who is liable to Audit U/S 44AB , has filed his return along with audit report within the due date ,can he REVISE such return after the due date of filing such return.

2.If yes upto which date can he revise such return and wether he would be liable for any panelty .

07 October 2010 If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier:

he would not be liable for penelty



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