Revise tax

This query is : Resolved

sunil (Querist)
Follow

23 July 2014 Hello Experts,
i have filed my 2012-2013 taxes before time (31st july 2013). But i missed to declare some capital gain due to some issues. I want to revise my tax. Can i do it now?
I found someone telling me that i cant revise tax under section 139(5) if my previous year return was approved in assessment by AO.
Can someone please guide on the process?
Also for a foreign stock thats not listed in india, is their a difference between long term and short term gain? Or i have to pay flat 20% on capital gain?

thanks
sunil

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

23 July 2014 if u havent rec ur assessment order still u can file revsied return till 31.3.2015 for ay 13-14 so go ahead and file it asap.

sunil

sunil (Querist)
Follow

23 July 2014 Thanks Tushar,
But i did not get the answer, did you mean to say that even if i have received my AO i can revise tax? or its other way around?

thanks
sunil

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

23 July 2014 no , once u rec ur assessment order then u cant revise then u need to file rectification petition u/s 154.

sunil

sunil (Querist)
Follow

23 July 2014 Thanks again,
Is there a way to find out whether my AO was generated? So say if i haven't received any notice/order does this mean that i dont have a AO yet?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

23 July 2014 if u havent rec it then u can revise ur return..............

Message likes : 1 times

sunil

sunil (Querist)
Follow

23 July 2014 Thanks a lot Tushar!
Appreciate your help.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

23 July 2014 you are welcome sunil..........................

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

Summarize this with AI