Rectification for return
This query is : Resolved
23 April 2013
One of our client filed his online ITR for Asst year 2011-12 in July 2012.
He has salray income and loss from house property(Intt on loan for self occpied propertry) in his Form 16.
Mistakenly while filing the retrun he has ommit to consider the Loss from HP part and filed the ITR with salray income only but he has taken Taxes as per his form 16 which were calcuated net of House property loss
Later on he has recived a demand letter from ITO for less deposition of Taxes as per declared income in ITR.
My questtion is that can he file recetification for ommision of HOuse property loss now and take adjsutment of his demand.
He has salray income and loss from house property(Intt on loan for self occpied propertry) in his Form 16.
Mistakenly while filing the retrun he has ommit to consider the Loss from HP part and filed the ITR with salray income only but he has taken Taxes as per his form 16 which were calcuated net of House property loss
Later on he has recived a demand letter from ITO for less deposition of Taxes as per declared income in ITR.
My questtion is that can he file recetification for ommision of HOuse property loss now and take adjsutment of his demand.
23 April 2013
File Revise Return if allowed and then reply to notice that i have filed revised return.
IF system do not allow to file revise return you have to write letter suitably clarifying this
IF system do not allow to file revise return you have to write letter suitably clarifying this
23 April 2013
Actually my client has already got the Intimation u/s 143(1). Can he still file revised return.
If no then what can be the soultion available with us
If no then what can be the soultion available with us
23 April 2013
Technically no revision of return can be made as per sec.139(5).
However online return allows you to file revised return though you have received intimation.
The last option is to answer suitably to AO
However online return allows you to file revised return though you have received intimation.
The last option is to answer suitably to AO
23 April 2013
Is there any possiblity for rectification u/s 154
23 April 2013
yes Revised return can be filed if the return is filed on or before the due date
as because intimation U/s. 143(1) is not an assessment order its just an intimation not an order
or
you can File rectification application U/s. 154
as because intimation U/s. 143(1) is not an assessment order its just an intimation not an order
or
you can File rectification application U/s. 154
24 April 2013
The issue has been discussed perfectly well in the another query raised on caclubindia.
Which says that 143(1) is just intimation and not assessment hence revised return can be filed. Further it is worth noting that if some mistake is in income tax return itself - same cant be rectified any how U/s.154.
https://www.caclubindia.com/experts/revised-return-after-intimation-u-s-143-1--766210.asp#.UXenfkqxmyo
Which says that 143(1) is just intimation and not assessment hence revised return can be filed. Further it is worth noting that if some mistake is in income tax return itself - same cant be rectified any how U/s.154.
https://www.caclubindia.com/experts/revised-return-after-intimation-u-s-143-1--766210.asp#.UXenfkqxmyo
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
