Gaurav Tripathi (Working with DIAGEO-Leading Drinks Manufacturing Company) (210 Points)
17 August 2012One of my clints return was filled by some person (don't know he is qualified or not) in A.Y. 2011-12. His source of income is commission (TDS deducted in Sec. 194H).
His ITR-V was not received by department in 120 (Return was belated Volentery after due date).
Can he revise his online return. If yes which form is good as previous return was filled in ITR-4. I have no details what he had filled.
CA. Subhash Dangi
(Chartered Accountant)
(1784 Points)
Replied 17 August 2012
When the signed ITR-V not sent by Assessee to CPC, IT dept within 120 days from the date of E-filing, it is deemed that no retutn of income has been filed with IT dept for the AY 2011-12 and hence it is invalid return.
Question of reviseing the return does not arise as no income tax return is filed due to non sending signed copy of phisical ITR-V within 120 days.
U need to file fresh return of income with the appropriate ITR Forms. If your client gets commission on regular basis on business then file ITR-4 for the same.
Gaurav Tripathi
(Working with DIAGEO-Leading Drinks Manufacturing Company)
(210 Points)
Replied 17 August 2012
Thanks alot Mr. Subhash. this is the perfect answer. Just one small query :
What would be better E-filling or Hard Copy ?
CA. Subhash Dangi
(Chartered Accountant)
(1784 Points)
Replied 17 August 2012
For hassle free fast assessments, refunds, rectifications etc, it is better to file thro E-filing.
Gaurav Tripathi
(Working with DIAGEO-Leading Drinks Manufacturing Company)
(210 Points)
Replied 17 August 2012
Thank You
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