one of our client filed a itr for the A.Y. 20011-12 on 30.7.2011, with refund (applied) Rs. 2900, but while filing the return he was not fill the depriciation schedule(block wise), but charged depriciation in profit & loss account, now befor 2 days he received intimation u/s 143(1) and found that IT department disallowed the depriciation of Rs. 8000 and refund payable (as per dept.) 2100. now my question is whether we file his rectification/revise return or no responce (he will satisfied if received 2100 instead of 2900).
10 Replies
Deepa
(CA and CS Final B.Com University First)
(195 Points)
Replied 13 March 2012
File rectification under sec 154 online. The error can be rectified in the XML that is to be attached while filing it online.
you will recieve the corrected intimation within short time
vinay sharma
(CA final (Article))
(327 Points)
Replied 13 March 2012
thanks for your valueable suggestion,,,, should i fille full xml file(a fresh file) for rectification, if not then, how? (procedure)
RAKESH
(Almost CA)
(2199 Points)
Replied 13 March 2012
It depends on the type of intimation u have received.
if u have received 143(1) Intimation then the "Rectification u/s. 154" is to be filed.
Now a days dept has for depreciation and other small defects started giving 139(9) notices in that case u have to "Revise the return within 15 days of the receipt of the intimation"
SHARIQUE TAHSEEN
(OWNER)
(57 Points)
Replied 13 March 2012
Rectification should be done by filing the return u/s 154.
CA Tushar
(Practice)
(45 Points)
Replied 13 March 2012
Yes rectification u/s 154 should be filed as a reply to 143(1)
CA. Anoop Bhatia
(Partner )
(442 Points)
Replied 14 March 2012
One needs to understand when to file a rectification application and when to revise a retrun of income. If there is an ommission or wrong statement in the retrun filed by the assessee a revised retrun can be filed provided the first retrun was filed within 139(1) time limit whereas a rectification application can be made where there is a mistake appartent from record.
Non updation of depreciation schedule in the return in my opinion should be considered as ommsiion rather than mistke apparent from record. Since in the given case retrun was filed within 139(1) period thus assessee should file a revised retrun to claim the amount of refund.
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