Dear ,
Mr.X has not show the Agricultural income in the Return Filed for F.Yr 10-11.
Please let me know what is the way out for the above as the Rectification Return can be filed til 31st 2013.
And Consequences
Thanks
3 Replies
shivaji prasad bhimavarapu
(CHARTERED ACCOUNTANT)
(2391 Points)
Replied 06 July 2013
No.Revised return can be filed if the original return is filed within the due date relevant to that Asst Year and also if there is any change in the total income. In this case, agricultural income does not form part of total income.
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 06 July 2013
The rectification u/s 154 should be passed with 4 years from the end of the financial year in which intimation/deemed intimation u/s 143(1)was passed.
So in your case the return can be easily rectified online & your should pay the difference tax & interest thereon with it.
Regards,
Kuldeep
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 06 July 2013
'with 4 years' stands for 'within 4 years'
& 'Your should pay' stands for 'you should pay'
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