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E-return filed with wrong amount, What next?

ajex (Student PE2) (82 Points)

19 July 2010

Hey All,

I recently filed an e-return of an individual (ITR-1) and just after that while going through the ITR-V i found that the amount under the head "income from other sources" was wrongly entered. Can anyone please let me know whether i should file a revised return or upload an XML with correct amount n send the relevant ITR-V to CPC, Bangalore.

Any suggestion shall be of great help!

Regards,

Ajex

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7 Replies

RAKESH (Almost CA) (2199 Points)
Replied 19 July 2010

2 options are there :

1. u can file revise return and u can change the figures.

2. After the uploading of return u have 120 days for sending the ITR V verification form to cpc . if the form is not posted within 120 days it will be deemed to be a defective return . at that time u can file ur return with correct figures.

Better option is revising the original return.

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karunaiselvan (Financial Analyst) (63 Points)
Replied 20 July 2010

dear friend,

The only way of correcting the mistakes in the filed return, is to submit a Revised return.

You have to wait until you receive the Receipt of ITR V through mail from the Department.

The receipt no (Acknowledgement Number)is necessary for the purpose of filing the Revised Return.

After the Receipt of the above said number, you can correct the figures and file the return by quoting the acknowledgement number on the appropriate place provided in the ITR 1.

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