what can be done in regard of itr filed for the year ay 2017-18 if the amount of 80c claimed is lower than the actual amount?can the return be revised now?
15 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 01 June 2018
As usual, file revised return u/s. 139(5).
CA Sachin Agarwal
(Chartered Accountant B.com (Accounting Hons))
(831 Points)
Replied 01 June 2018
Sir but as per the provision of section 139(5), If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
So in this case last date becomes 31-3-2018.
So how is it possible to revise the return?
krishna patil
(110 Points)
Replied 01 June 2018
there has been an amendment for ay 17-18 in the finance actcorrect me if I'm wrong
Fatin Nizami
(338 Points)
Replied 01 June 2018
The last date of assessment year will be 31st March, 2019, please correct me if I am wrong.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 01 June 2018
| Originally posted by : krishna patil | ||
 |
there has been an amendment for ay 17-18 in the finance actcorrect me if I'm wrong |  |
REFER:: https://www.caclubindia.com/forum/revise-return-463413.asp
CA Sachin Agarwal
(Chartered Accountant B.com (Accounting Hons))
(831 Points)
Replied 01 June 2018
No last date will be 31-3-2018
Please read 139(5)
CA Sachin Agarwal
(Chartered Accountant B.com (Accounting Hons))
(831 Points)
Replied 01 June 2018
Revised Return of Income Tax can be filed by an assessee any time
- Before the end of the relevant assessment year; or
- Before completion of the assessment
whichever is earlier.
For example: If an assessee files the return for F.Y. 2016-17 (A.Y. 2017-18) on 11th July 2017. And later on, if he discovers some mistake, then he can file a revised return of Income Tax anytime up to 31 March 2018 or before the completion of Assessment, whichever is earlier.
CA Sachin Agarwal
(Chartered Accountant B.com (Accounting Hons))
(831 Points)
Replied 01 June 2018
No last date will be 31-3-2018 only.
It is not possible to revise the return now
Revised Return of Income Tax can be filed by an assessee any time
- Before the end of the relevant assessment year; or
- Before completion of the assessment
whichever is earlier.
For example: If an assessee files the return for F.Y. 2016-17 (A.Y. 2017-18) on 8th July 2017. And later on, if he discovers some mistake, then he can file a revised return of Income Tax anytime up to 31 March 2018 or before the completion of Assessment, whichever is earlier.
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