my friend filed wrongly ITR after due date now he wants to correct it by filing revised but it is not accepting due to 139(5) section. when I searched about 139 (5) original should file before due date to revise any return. what is the solution for this, how to resolve his problem. kindly give advice. thanks venkatesh
23 December 2014
If you have filed original itr after due date then it cannot be revised u/s 139(5) so you can file a rectification request u/s 154 online also after log in under My account you can get this request
24 December 2014
I agree with Adit Sharda opinion but can anyone explain me how it will comes under the definition of ratification.
As per section 154 of Income Tax Act it reads as under With a view to rectifying any mistake apparent from the record, an income-tax authority referred to in section 116 may,— (a) amend any order passed by it under the provisions of this Act ; [(b) amend any intimation or deemed intimation under sub-section (1) of section 143;]] [(c) amend any intimation under sub-section (1) of section 200A.]
It doesn't cover any the situation under which Income can be modified.
It would depend on the mistake that has been made. If there is an income that hasn't been considered but the same is reflecting in 26AS or is obvious from some other record (for e.g., amount deducted from PGBP that needs to be shown as income from other source but omitted), it can be rectified.
However, it won't allow you the freedom to change everything like a revised return.
24 December 2014
Dear Mr. Adil if it is appear that assessee has made deliberate attempt to conceal his income, then penalty under section 271(1)(c) will be levied irrespective of the fact that same is also shown on form 26AS
A deliberate attempt to conceal income is different from mistake made by assessee. If that were the case, the law wouldn't allow revised returns or rectifications. It would need to be proved in the first place that the income was intentionally concealed by the person.
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