Return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2014 One of my friend getting salary 5lacs ,He has done consultancy 2.5lacs with Tds deducted .By ignorance he has filed ITR 1 A Y 2014-15.He has shown consultancy income in other sources. what he should do now.

Thanks

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

20 September 2014 ideally, revise the return.......

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

21 September 2014 You can revise return provided the return was filed within due date u/s 139(1). In case it is a belated return u/s 139(4) you can not revise it.

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 What is the remedy it is filed under 139(4) ,total income received out of consultancy has been included in any other income. CPC will process the ITR or not.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

21 September 2014 then there is no remedy. CPC will process it. But if any discrepancy is found, then can put it out for assessment.

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 I have not put any expenses The total many received has been taken as income.The ITR contains income from salary +other income(income from profession +saving bank interest) .Deduction are interest on loan of self occupied house and savings under 80c etc.as per rule

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

21 September 2014 Ask your friend to wait for intimation u/s 143 (1). It will get processed. I don't think this will come under scrutiny. In case it comes under scrutiny (chances very slim) then ask your friend to disclose the matter before its detected. There will be no issue since he has offered full amount for Tax and have paid tax thereon.
So ask your friends to just sit back and relax.

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2014 Thanks Sanjay, FOR A.Y 2012-12 CBDT notified almost no scrutiny for senior citizens and for those whose gross income is less than 10 lacs It was only for that year or this will also be applicable for AY 2013-14 and AY 2014-15.
Thanks for the pains.I have advised my friend that there is serious issue .Just wait, I think this year the processing will be fast

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

21 September 2014 Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15.

Link of Instruction No 06/2014 dated: 02/09/2014:

http://ctconline.org/documents/direct/Procedure_financial_year_2014_2015.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2014 Thanks, I have gone through compulsory conditions for manual manual selection. Do they select some other ITR .What is computer aided section system (CASS)? In AY 2012-13 senior citizens were exempted from scrutiny. Mine is small amount 3lacs from profession 6lacs from Govt pension and 48000 fom bank interest. TDS and other things are matching