I have made a mistak in ay 2014-15.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2016 sir,

As i made a mistake for the AY 2014-15 and i still dnt get the intimation from CPC ,can i rectify it in the month of April 2016.
Please suggest

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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27 March 2016 Yes you can rectify in April 2016 no need to worry

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 March 2016 1st of all you can submit revised return only if the original return was submitted u/s 139(1) within due date. For AY 2014-15 revised return can not be filed after 31.03.2016.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 March 2016 If an assessee has filed his return of Income u/s 139(1) of Income Tax Act 1961 i.e. within the due date of filing the return and if he subsequently finds that in the original return he has committed some mistake bonafidely then he can revise his return of income u/s 139(5) of Income Tax Act.

Time period of filing the revised return: As per section 139(5), the revised return can be filed before the expiry of one year from the end of the relevant assessment year or before the completion of assessment, whichever is earlier.

Therefore a return of A.Y 2014-15 can be revised till 31st March 2016 or before the completion of the assessment whichever is earlier.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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27 March 2016 I was talking about rectification u/s 154 because he said intimation....but Still he can revised his IT Return on or before 31.03.2016

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Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2016 Thank you very much sir, i have file the return after due date so no chances of revise return.