Whetrher 139(1) or 139(4)

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2010 Dear Sir/Madam,

If we are filing Return for an individual for AY 09-10 ie FY 08-09 on 31st march 2010 then in return what section we need to mention whether 139(1) or 139(4)for section purpose.
If answer is 139(4)that, what would we need to do if we have mentioned 139(1) in the return instead of 139(4)?

pls guide....

Thanks,

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

01 April 2010 YOU NEED TO MENTION SEC 139(4) AS IT IS A BELATED RETURN.
NOW YOU CAN NOT FILE REVISED RETURN, YOU NEED TO WRITE A LETTER TO YOUR ITO INFORMING HIM OF THE MISTAKE YOU MADE AND ASK HIM FOR NECESSARY CORRECTION.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
Follow

01 April 2010 Agree with expert.

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2010 If we are not coreecting this by letter to ITO than there is any legal consequence of this.

Thanks,

CA Shiv

CA Shiv (Expert)
Follow

02 April 2010 Hello agree with him... can u tell me wat u meant by correcting?

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2010 means as they said you can correct the section to intimate the ITO. Now my question is if i m not coorecting this sec and keep the sec as it was before that is 139(1), then is there any legal conseqences for the same....

Thanks,