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Revised return- meaning of bonafide

ITR 1090 views 1 replies

Dear Friends,

In the original return, the sales disclosed is around 9 lacs. After the return was filed within the due date,  there is a rectification in the sales & purchase figures.The sales fig reached to 12 lacs. The income disclosed is unchanged. Whether such change is bonafide. if not what is the remedy in such a case.

 

Can i file a revised return without attracting penalty?

 

Regards

Indranil.

Replies (1)

hi Mr.INDRANIL,

you can increase the sales figure to  Rs.12 lacs maintaing same income  in revised return provided the gross profit in revised return should be more than that in original return .you can increase expenses that are related with sales so as to to maintain the same profit as in original return.


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