154 possible (Income Tax)

This query is : Resolved

Vivek Agarwal

( Author )
19 May 2012

At the time of filing return STCL taken as STCG and Exempt income taken as taxable income.Department raised a demand against it, is there any remedy available to rectify the above mistakes.

Siddhartha Bhardwaj

( Expert )
21 May 2012

You will have to revise the return.

Vivek Agarwal

( Author )
21 May 2012

cant revise the return, time already expired.... any alternative way??????

Siddhartha Bhardwaj

( Expert )
21 May 2012

You can try to file the rectification application. Maybe the department will accept the same.

However, most probably it will be rejected.

But there is no harm in trying. File the rectification application and then wait for the same to be processed.

Vivek Agarwal

( Author )
24 May 2012

rectification already rejected by the department.... any other way???????

Vivek Agarwal

( Author )
24 May 2012

rectification already rejected by the department.... any other way???????

Siddhartha Bhardwaj

( Expert )
24 May 2012

In that case, there is no option available to the assessee.

You can seek revision u/s 264.