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It refund query

malav (auditor) (59 Points)

22 December 2015

Hello, If ITR-V send to Banglore CPC after due date i.e. after 120 days then what will be the effect on IT refund???

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8 Replies

Chandani (Chartered Accountant) (39 Points)
Replied 22 December 2015

Inorder to get refund in case where ITR V acknowledgment is submitted after 120 days follow the following steps:

1) Revise the return or rectify the return in case the return is submitted after due date.

2) Generate Rectified ITR V Acknowledgement

3) Submit the Original return ITR V as well as the Rectified ITR V to Bangalore within 120 days.

Hope this helps!!

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ynr ramesh (Student) (21 Points)
Replied 22 December 2015

Good one... definitely helpful

sreenivas (student) (46 Points)
Replied 22 December 2015

Upon non submission of Itr v within 120days,you will receive a letter from department stating resubmit the return within 15days from the date of receipt of such letter. Then you can file the same return. I haven't sent Itr v within 120days in one of my client case and gone through this process. Hope you are clear with the solution, and I can say there isn't any problem if you haven't send itr v within time limit,but let me tell you this process probably may take 8-9months from the date of filing original return.

Rohit Aggarwal (ACA Bcom (H) MBA MCom) (470 Points)
Replied 23 December 2015

Thats right. You just need to file a revised return. Do not forget to send ITR V this time.

CA Prateek Garg (CA in Practice) (1447 Points)
Replied 23 December 2015

A revised return cant be filed in this case.

Non submission of ITR V results in Non filling of ITR and it is deemed as no return has been filed. Now since there is no original return filed in first place, how a revised return can be filed.

File a original belated return u/s 139(4) and send the ITR V to CPC or E verify the return.

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Chandani (Chartered Accountant) (39 Points)
Replied 23 December 2015

Logically speaking, filing a belated tax return is not fair because belated returns might increase tax. Having pratically done this, it has been confirmed from the IT Dept that one has to file revised returns in such cases. Even if there is doubt 18001801961/1961 here is the I.T helpline No. contact them and resolve the query.

S. Shiroor (Others) (1207 Points)
Replied 23 December 2015

CBDT had extended the date for sending ITR-V for AY 2013-14 and AY 2014-15 to 31st OCT 2015. This date is over now. You can ask the help line nos of CPC bangalore what to do or wait for their comm.

Nikhil Kaushik (Fellow CA) (86485 Points)
Replied 23 December 2015

Originally posted by : Prateek Garg
	A revised return cant be filed in this case. Non submission of ITR V results in Non filling of ITR and it is deemed as no return has been filed. Now since there is no original return filed in first place, how a revised return can be filed. File a original belated return u/s 139(4) and send the ITR V to CPC or E verify the return.

there is one problem here. Can you file two original returns online for an assessment year? have your tried this? Even if the ITR-V is not sent within 120 days or the extended duration, the status of the return in the system is not changed to rejected.

As I understand you will have to choose 139(5) only as the system won't accept two original returns! However, it will be processed as 139(4).