Filed itr using a wrong itr form

This query is : Resolved

SATYANARAYANA REDDY P (Querist)
Follow

27 June 2013 I recently filed my IT returns for the AY 2013-14. I made a mistake by choosing a wrong ITR form. As per the new rules from IT department people who have tax exempt income of more than Rs.5000 should fill ITR 2 instead of ITR 1, but I filed my returns using ITR 1 form. I sent the ITR - V to the Income Tax Department - CPC and got an acknowledgement that my ITR - V is receieved.

Is this a big mistake? If yes, please help me to rectify this mistake.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

27 June 2013 This is the mistake of department which has prescribed a criteria of exempt income below Rs. 5000/- for ITR-1.
.
From your side it is a small mistake and if pointed out later by the alert computers of CPC, it can be rectified.
.

Message likes : 1 times

SATYANARAYANA REDDY P

SATYANARAYANA REDDY P (Querist)
Follow

27 June 2013 Thank you sir. This means as of now I can take rest. If there is any discrepancy communicated to me by CPC then I will get the chance to rectify it. Am I right?

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
Follow

27 June 2013 I think you can file a revised return to avoid discrepancies at a future date. Though its a small mistake it wud b better if u rectify it at ur end since you are aware of the mistake

Message likes : 1 times

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

27 June 2013 In my opinion it cannot be revised...but it can be rectified..

Revised return can be filed under section 139(5) only if the assessee discovers any wrong statement in return originally filed.

here form it self choosen wrongly so it has to be rectified only..

so it is defective return..it can be rectified..and it cannot be revised

Thanks & regards
Ganesh babu k

Message likes : 1 times

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

28 June 2013 As you said, it is a mistake. But, filed return form in ITR-1 will not become invalid by virtue of section 292B . CPC can treat that return as 'defective' and if so, cure the defect according to the direction of CPC.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now