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Revised return

asheeq ua (ca ipcc) (313 Points)

03 October 2019

Itr filed and there was tds but client did not claimed it. Now I can revise right?? It is refund case. Tds deducted around 25k on Interest income. Earlier client had not claimed tds, but Itr is processed. What should I do now?

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22 Replies

Piyush Bothra (Student CA IPC / IPCC) (68 Points)
Replied 03 October 2019

Revise your return and claim TDS. Not claiming TDS will be considered as returns filed incorrectly.

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asheeq ua (ca ipcc) (313 Points)
Replied 03 October 2019

Yes sir, but itr filed earlier is processed. Now I revised the return. Will it be a problem?

Piyush Bothra (Student CA IPC / IPCC) (68 Points)
Replied 03 October 2019

No revised return will be considered as return filed u/s 139(1). It will substitute the original return.

asheeq ua (ca ipcc) (313 Points)
Replied 03 October 2019

Sir but original return is processed. Today I have revised the return, won't be problem for refund right?

Piyush Bothra (Student CA IPC / IPCC) (68 Points)
Replied 03 October 2019

a return can be revised before the expiry of one year from the end of the Assessment Year or before the completion of the assessment by the Department; whichever is earlier

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asheeq ua (ca ipcc) (313 Points)
Replied 03 October 2019

Okay sir. But if the dept had processed original return, will they again process revised return?

Piyush Bothra (Student CA IPC / IPCC) (68 Points)
Replied 03 October 2019

Yes they will do it.

asheeq ua (ca ipcc) (313 Points)
Replied 03 October 2019

Okay sir, thank you so much sir. I had confused regarding this. You had cleared it.

veerendar singh (tax consultant) (3301 Points)
Replied 04 October 2019

Piyush it is suggested to read the statute once again

Piyush Bothra (Student CA IPC / IPCC) (68 Points)
Replied 04 October 2019

Sir, I have re-read the statue and as per my knowledge processed return is not an assessed return. If you have other view, please share the link so I can check and clarify.

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veerendar singh (tax consultant) (3301 Points)
Replied 05 October 2019

Piyush u have misunderstood the provisions

Piyush Bothra (Student CA IPC / IPCC) (68 Points)
Replied 05 October 2019

I don't think so. You can check similar replies to mine in other threads relating to revision of return. I have done it practically and hence I don't think that is the case.

veerendar singh (tax consultant) (3301 Points)
Replied 05 October 2019

Piyush u have done a big blunder by doing it and also by making others do it too.
its ur sole conviction, pls read the statute carefully and also go through the cbdt website for reference

asheeq ua (ca ipcc) (313 Points)
Replied 05 October 2019

Yes sir some experts are telling there is no problem in revising the return. But some are saying u should not revise the return once the return is processed.