Rectification under s 154

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2011 I received an intimation under S 143 (1). When I went through the return I had filed I realised I made a mistake by putting in ( interest on loan for house property) in the column ' Expenses not pertaining to business. I realised that this has added up the profit according to the authorities and as such an intimation to pay tax has ben made by them.

Please tell me if I can rectify this mistake under Sec 154. What is the time limit for sending in the rectification. Please help

chetan soni

chetan soni (Expert)
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17 August 2011 You can do so by filling the rectification application.

You can file an rectification upto 4 yrs from the date of intimation u/s 143(1).