25 August 2017
I have filed original return (accounts books maintained on cash basis) for A.Y 2016-17 before due date. The return was processed generating a refund (of around 60,000/-). Now i wish to REVISE the return as I had unintentionally forgotten to take Share of Profit, Remuneration from the firm and Interest on capital with the firm (although all of the income from firm are book entries not received by me in cash/cheque).
On incorporating the above incomes still i am eligible for a refund (of around 18,000/-). How and where do i show Income tax refund received, How do i calculate interest payable if any. How do i refund back the department the excess refund received. Do i need to ?.
CAclubindia
