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Revision of return

CA SUKSHAM ARORA (CA) (569 Points)

11 September 2014

CAN ANYONE PLEASE TELL ME IF A RETURN FILED ON 31.07.2013 FOR THE A.Y. 2013-14 BE REVISED AFTER BEING PROCESSED BY INCOME TAX DEPATMENT?

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13 Replies

CA Meetali (Practicing Chartered Accountant) (145 Points)
Replied 11 September 2014

Yes the return can be revised u/s 139(5) upto the date 31/03/2015 as the processing of return u/s 143(1) would not amount to completion of assessment.

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PRAKRITI (CA Practice ) (22 Points)
Replied 11 September 2014

Dear Suksham,

Income Tax Return of AY 2013-14 which is filed on 31.07.2013 can be revised under section 139(5) of the Act till one year from the end of assessment year of which the return is filed. i.e. upto 31st March 2015 for discovery of ommission or wrong statement in the return so filed.

PRAKRITI (CA Practice ) (22 Points)
Replied 11 September 2014

However as you mentioned that your return has been processed by the Income tax department, therefore you can not revise the return, as processing of return is considered as 'completion of assessment'.

RAJ KUMAR (FINANCE CONSULTANCY) (25 Points)
Replied 11 September 2014

DEAR SIR IF I FILL IT RETURN ON 1/8/2014 FOR AY 2013-14 THEN CAN I REVISE THAT FILLED RETURN

bulli reddy (articles student) (24 Points)
Replied 11 September 2014

Dear raj U can't able to file revised return under sec139(5) for individual,huf who are not covered under sec 44AB.

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atul mane (accountant) (124 Points)
Replied 11 September 2014

Sir why it mean an individual cant file revise return?

bulli reddy (articles student) (24 Points)
Replied 11 September 2014

Dear atul, Don't misunderstand I have just replied against the query raised by Mr.raj. Individual also can revised return provided If they file the return with the due date specified u/s 139(1)

Ajit Bhati (Chartered Accountant) (214 Points)
Replied 12 September 2014

Yes, You can Revise the return before the completion of Assessment or within 1 year from the end of the AY which ever is earlier.

CA SUKSHAM ARORA (CA) (569 Points)
Replied 12 September 2014

DEAR MEMBERS,

PLEASE CLARIFY IF PROCESSING OF RETURN AMOUNTS TO ASSEMENT WHICH IS REFFERED IN SEC. 139(5)

CA Meetali (Practicing Chartered Accountant) (145 Points)
Replied 12 September 2014

Processing of return under section 143(1) does not amounts to completion of assessment. It is mere intimation of processing of return. An assessee can revise its return after the intimation under section 143(1).The Word used under section 143(1) is 'process;' not 'assessment'.