Help me on this point..!!!
This query is : Resolved
05 February 2009
Q1] If an assessee files a return after due date (Belated u/s 139(4))and forgets to include:
1) Secured loan balances,
2) Deprecation on some of its fixed assets
&
3) TDS available for refund
in its return and he is not liable to pay tax then what will be the consequences as he is not allowed to revise his return?
Q2] Will he be able to claim the Depreciation on assets which were not included in Balance sheet & on which dep was not taken and TDS refund next year?
Q3] Will he be able to show his secured loans next year which were wrongly not included in balance sheet this year?
Please help me....
1) Secured loan balances,
2) Deprecation on some of its fixed assets
&
3) TDS available for refund
in its return and he is not liable to pay tax then what will be the consequences as he is not allowed to revise his return?
Q2] Will he be able to claim the Depreciation on assets which were not included in Balance sheet & on which dep was not taken and TDS refund next year?
Q3] Will he be able to show his secured loans next year which were wrongly not included in balance sheet this year?
Please help me....
06 February 2009
An assessee can filed revised return before the next year of the assessment year or before the assessment. suppose u r filed return for the f/y 2007/08 then , u can filed the revised return before the 31st march,2010.this doesn't matter for which pupose u r file revised return.
06 February 2009
An assessee can filed revised return before the next year of the assessment year or before the assessment. suppose u r filed return for the f/y 2007/08 then , u can filed the revised return before the 31st march,2010.this doesn't matter for which pupose u r file revised return.
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