Filed itr-1 for wrong assessment year

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ashutosh jain (Querist)
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04 August 2014 Dear experts, this was the first time I was filing ITR in my life so I made a mistake and filed ITR-1 for assessment year 2013-14 thinking that it of as financial year whereas I had to file it for 2014-15. So all the values filled in the form except for some FD interest's TDS, were meant for 2014-15. I was not a salaried employee previous year so I actually never needed to file for 2013-14. Now I have to correctly file it for 2014-15 and get the ITR-V for 2013-14 deleted from the memory of IT department. What is the correct and proper procedure to achieve it? If I File a fresh return for 2014-15, post it and don't post the ITR-V for 2013-14 will it be fine?
Thanks in advance.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 August 2014 u should first send the itr-v of this itr-1 u wrongly filed to cpc bengluru within 120 days of online filling and then now again file a new itr-1 but select revised return option u/s 139(5) and fill up correct data and send it to cpc within 120 days of filling the new itr-1.

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ashutosh jain

ashutosh jain (Querist)
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04 August 2014 But isn't "revision" applies to same assessment year? I want to change the assessment year and some values.
Also if revision applies then will it be fine if I send both original and revised forms together?

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 August 2014 for that also u need to revise the return only.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 August 2014 beg to differ from the expert opinion:

Since you have filed ITR for AY 2013-14 now, it cannot be revised as it is a late return.

the corrective action is to not to send the ITRV to CPC. Once the ITRV is not recieved within 120 days, it will become non-existent for income-tax purposes. This way there wont be any need for processing of the return.

And file fresh ITR for AY 2014-15 and send the corresponding ITRV generated to ITD-CPC.

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ashutosh jain

ashutosh jain (Querist)
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05 August 2014 Thanks. That's what I was also thinking of doing. Because what I know is that the ITRV is only processed when it is received. But I hope this wouldn't be raising the eyebrows of CPC that this PAN has one more ITR-V of last year under his name which is not received yet. Wouldn't they be questioning me over this while processing my ITR-V?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 August 2014 whatever eyebrows they may raise. they cannot force you to file a return unless it is required under the provisions of section 139. And even where they issue a notice for filing of return, you can file in response to the same the actual return with correct details.

with regards to processing of return for AY 2014-15, processing of return for one year is independent of previous years.

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ashutosh jain

ashutosh jain (Querist)
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05 August 2014 Got a lot of clarity now. Thanks you very much.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 August 2014 you are welcome Ashutosh..best of luck

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