Mahesh (Accountant) (25 Points)
18 January 2015I have file my ITR in ITR 4S for the AY 2014-15 on 30th july 2014 for combine of my & my business income but mistake the amount of total turnover putted wrong & total income looks only 12000/- pa, now i want to revise my income under rectification of return for purchase of home what should i do for revise this return
Thank You,
Mahesh Aher
Manik Goenka
(Audit Assistant)
(26 Points)
Replied 18 January 2015
Dear,
As per section 139(5), the revised return can be filed before the expiry of one year from the end of the relevant assessment year or before the completion of assessment, whichever is earlier. Thus return of A.Y 2014-15 can be revised till 31st March 2015 or before the completion of the assessment whichever is earlier.
In order to revise your return you should file a revised return (electronically if original return was filed electronically) on or before 31st march 2015 stating correct particulars of your income.
Thanks.
Madav
(Senior Consultant)
(172 Points)
Replied 19 January 2015
Please note that , you can not revise the return if assessment is over on your return..
rajkumar goyal
(manager)
(67 Points)
Replied 10 April 2015
hello ,
if you have filed it mannually then you can file revise return mannually also ,because we donot know whether assessment had completed or not .presuming by this way you would have inflated income return in your hand to meet home loan requirement .
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