07 August 2011
you can now file a revised return mentioning the correct loss figure and quoting the acknowledgement number+date of filing of original return , and marking Type of return as Revised and section code as 139 (5) in the Revised return,
07 August 2011
There is one precaution that should be taken.
I hope you know it but loss on shares is calculated only when it is sold. I mean to say that DEMAT A/c's normally show losses or profit on the basis of current market price. That should not be considered for the purpose of income tax.
09 August 2011
you can file the revised return as provided under sec 139(5), it says: [(5) If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier
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