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Rectification u/s 154

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 January 2017 Dear sir
please let me know can i file rectification of belated return. is it allow as per income tax norms,

regards
Mukesh

16 January 2017 Rectification u/s 154 is allowed for belated return after receipt of 143(1) intimation.

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 January 2017 that mean after the assessment the rectification of belated return is allow




16 January 2017 Yes it is with limitation as per section 154.

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 January 2017 dear seetharaman sir,
one more query... actually we have paid rs. 15000 interest free loan to the employee,
is this loan is exempt upto 20000 in aggregate as per rule 3(7)(i) or not

16 January 2017 Yes it is exempted up to 20000.



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