Mistake in filing belated return
This query is : Resolved
18 April 2013
sir i have filed a ITR4S for A.Y 2012-13 as on 28/03/2013. That is belated Return.. But Unfortunately i filed the wrong figure of closing stock in that return.. now i want to revise it but cant. How can i came out of this problem... plz resolve my problem
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19 April 2013
as a belated return can not be revised you re left with the option of sending letter u/s 154. check details on incometax efiling site after login.
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09 May 2013
sir i have no records of expenses.. so that i filed ITR4S then how i can prove it to the assessing officer that the closing figure of stock is incorrect......
03 August 2024
If you've filed a belated return and realized that there is an error in the closing stock figure, and now wish to revise it, you have several steps to address this issue:
### **1. Revision of Belated Return**
- **Income Tax Act Provision**: Generally, a belated return cannot be revised. Under Section 139(5) of the Income Tax Act, the option to revise a return is available only if the original return was filed within the due date. Since you filed a belated return for A.Y. 2012-13, revision is typically not permitted.
### **2. Request for Rectification**
If revision is not possible, consider these alternatives:
- **Rectification Application (Section 154)**: You can file a rectification application under Section 154 of the Income Tax Act if the mistake is a "clerical error" or a mistake apparent from the records. However, this usually applies to cases where there's an obvious error in the processing of the return rather than a misstatement of facts. For a correction to be accepted, you will need to demonstrate that the correction is indeed a clerical error.
### **3. Communicate with the Assessing Officer**
- **Submit a Letter of Explanation**: Write a detailed letter to the Assessing Officer explaining the mistake. Clearly state the incorrect closing stock figure and provide the correct figure. Attach any available supporting documents that can substantiate the correct closing stock figure.
- **Submit Additional Documents**: If you don't have records of expenses but can provide other supporting documents or calculations that justify the correction, include those in your communication.
### **4. Submit a Revised Return (If Allowed)**
For future reference, in similar situations:
- **Revised Return**: For any future instances, if you file a return within the due date and then need to correct it, you can file a revised return under Section 139(5). However, this will not apply retroactively to the belated return you have filed.
### **5. Appeal or Legal Recourse**
- **Appeal**: If the Assessing Officer does not accept the correction and assesses the return based on the incorrect information, you can file an appeal with the Commissioner of Income Tax (Appeals).
### **Sample Letter to Assessing Officer**
Here is a sample letter you might use to communicate the mistake to the Assessing Officer:
```plaintext
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email ID]
[Phone Number]
[Date]
To,
The Assessing Officer,
[Income Tax Office Address],
[City, State, ZIP Code].
Subject: Rectification Request for Incorrect Closing Stock in ITR for A.Y. 2012-13
Dear Sir/Madam,
I am writing to bring to your attention an error in the closing stock figure reported in my belated return for the Assessment Year 2012-13, filed on 28/03/2013 under ITR-4S.
Upon review, I have identified that the closing stock figure reported was incorrect. The incorrect closing stock amount was [Incorrect Amount], whereas the correct closing stock should have been [Correct Amount]. Unfortunately, due to [explain reason if applicable, e.g., lack of proper records at that time], the figure was mistakenly reported.
Since the return was filed belatedly, I am aware that revision might not be permissible. However, I request your kind consideration in this matter and would appreciate it if you could advise on any possible course of action to rectify this mistake.
Enclosed are the documents and calculations that support the correct closing stock amount. Please find them attached for your review.
I apologize for the oversight and request your assistance in resolving this issue.
Thank you for your understanding and cooperation.
Yours sincerely,
[Your Name]
```
### **Conclusion**
Since the return you filed was belated, rectification via revision is not typically allowed. However, communicating with the Assessing Officer and submitting a letter of explanation along with supporting documents is a way to address the issue. For future cases, filing within the due date will allow for revisions if mistakes are found.
### **1. Revision of Belated Return**
- **Income Tax Act Provision**: Generally, a belated return cannot be revised. Under Section 139(5) of the Income Tax Act, the option to revise a return is available only if the original return was filed within the due date. Since you filed a belated return for A.Y. 2012-13, revision is typically not permitted.
### **2. Request for Rectification**
If revision is not possible, consider these alternatives:
- **Rectification Application (Section 154)**: You can file a rectification application under Section 154 of the Income Tax Act if the mistake is a "clerical error" or a mistake apparent from the records. However, this usually applies to cases where there's an obvious error in the processing of the return rather than a misstatement of facts. For a correction to be accepted, you will need to demonstrate that the correction is indeed a clerical error.
### **3. Communicate with the Assessing Officer**
- **Submit a Letter of Explanation**: Write a detailed letter to the Assessing Officer explaining the mistake. Clearly state the incorrect closing stock figure and provide the correct figure. Attach any available supporting documents that can substantiate the correct closing stock figure.
- **Submit Additional Documents**: If you don't have records of expenses but can provide other supporting documents or calculations that justify the correction, include those in your communication.
### **4. Submit a Revised Return (If Allowed)**
For future reference, in similar situations:
- **Revised Return**: For any future instances, if you file a return within the due date and then need to correct it, you can file a revised return under Section 139(5). However, this will not apply retroactively to the belated return you have filed.
### **5. Appeal or Legal Recourse**
- **Appeal**: If the Assessing Officer does not accept the correction and assesses the return based on the incorrect information, you can file an appeal with the Commissioner of Income Tax (Appeals).
### **Sample Letter to Assessing Officer**
Here is a sample letter you might use to communicate the mistake to the Assessing Officer:
```plaintext
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Email ID]
[Phone Number]
[Date]
To,
The Assessing Officer,
[Income Tax Office Address],
[City, State, ZIP Code].
Subject: Rectification Request for Incorrect Closing Stock in ITR for A.Y. 2012-13
Dear Sir/Madam,
I am writing to bring to your attention an error in the closing stock figure reported in my belated return for the Assessment Year 2012-13, filed on 28/03/2013 under ITR-4S.
Upon review, I have identified that the closing stock figure reported was incorrect. The incorrect closing stock amount was [Incorrect Amount], whereas the correct closing stock should have been [Correct Amount]. Unfortunately, due to [explain reason if applicable, e.g., lack of proper records at that time], the figure was mistakenly reported.
Since the return was filed belatedly, I am aware that revision might not be permissible. However, I request your kind consideration in this matter and would appreciate it if you could advise on any possible course of action to rectify this mistake.
Enclosed are the documents and calculations that support the correct closing stock amount. Please find them attached for your review.
I apologize for the oversight and request your assistance in resolving this issue.
Thank you for your understanding and cooperation.
Yours sincerely,
[Your Name]
```
### **Conclusion**
Since the return you filed was belated, rectification via revision is not typically allowed. However, communicating with the Assessing Officer and submitting a letter of explanation along with supporting documents is a way to address the issue. For future cases, filing within the due date will allow for revisions if mistakes are found.
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