CA Siddhartha Bhardwaj (Proprietor at Siddhartha Bhardwaj & Associates Chartered Accountants) (33456 Points)
10 December 2011Can revised return be filed after receipt of intimation u/s 143(1)??
Suraj Agarwal
(Self Practitioner in Income Tax & GST)
(782 Points)
Replied 10 December 2011
YES, IF TIME LIMIT U/S 139(3) IS NOT EXPTRED.
CA Suraj Prasad Shaw
(Chartered Accountant)
(504 Points)
Replied 10 December 2011
Yes, if return if filed within due date.
CA Sumit Bansal
(CA)
(75 Points)
Replied 10 December 2011
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 10 December 2011
Yes as explained in earlier post of similar forum,
Return is filed u/s139(1) and if the return is filed within time limit given then revised return can be filed u/s 136(5)
Now coming to the technicality,
Intimation is received, its not an assessment, so the return can be revised.
The reasons you have not specified for revising the return.
If there is a MISTAKE APPARENT on RECORD only then the return can be revised. you can not bring things which were remained to be disclosed in the original return.
So until and unless you give us the reasons it is hard to decide that you can file a revised return or not.
But pending which you can file revised return even after receiving the intimation u/s 143(1)
Shah Tarun
(Student)
(800 Points)
Replied 11 December 2011
Suraj Agarwal
(Self Practitioner in Income Tax & GST)
(782 Points)
Replied 11 December 2011
| Originally posted by : jignesh mehta | ||
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Yes as explained in earlier post of similar forum, Return is filed u/s139(1) and if the return is filed within time limit given then revised return can be filed u/s 136(5) Now coming to the technicality, Intimation is received, its not an assessment, so the return can be revised. The reasons you have not specified for revising the return. If there is a MISTAKE APPARENT on RECORD only then the return can be revised. you can not bring things which were remained to be disclosed in the original return. So until and unless you give us the reasons it is hard to decide that you can file a revised return or not. But pending which you can file revised return even after receiving the intimation u/s 143(1) |
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YES THIS IS A COMPLETE ANSWER.
I ALSO WRONGLY QUOTED SECTION IN MY REPLY, BUT CORRECT SECTION IN THIS CASE WILL BE SEC.139(5).
sameer
(student)
(29 Points)
Replied 14 December 2011
If return is filed within time limit {u/s 139(1)}, the assessee discovers any omission or any wrong statement, he can furnish revised return u/s 139(5) rather than u/s 136(5) {as quoted above}.
Yes, Revised return can be filed after intimation u/s 143(1), but before the assessment is made.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 14 December 2011
You might be exposed to penalty for concealment of income in the oroginal return in case a revised return is filed after intimation under 143(1) is received.
sameer
(student)
(29 Points)
Replied 14 December 2011
@ Dipjyoti please quote in which section penalty will be imposed ???
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 14 December 2011
271(1)(c)
sameer
(student)
(29 Points)
Replied 14 December 2011
yes true, but inspite of this, there is no restriction in that section to file revise return.
Mahesh Paryani
(Chartered Accountant)
(365 Points)
Replied 15 December 2011
if you hire a professional there are chanses that you escape penalty
g.srikanth
(paid assistant)
(21 Points)
Replied 27 March 2012
CAclubindia
