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Error filed in itr 5 for llp

(Guest)

HI all,

I was filing my LLPs tax return (ITR 5) after due date(belated) under section 139(4). I made a big mistake as I entered wrong value in the P/L account in the ITR. After than I didn't verify the details and uploaded it to the website but later on realized my mistake. (The error ITR shows a profit although shows no tax payable, but in reality the LLP has suffered a loss and there is no tax to be paid).

Now I want to correct that but I am unable to as there can be only 1 return under 139(4) and to file revised 139(5) the original return should have been 139(1). I am unable to understand as what to do now to right this wrong.

All help appreciated !

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14 Replies

Nikhil Kaushik (Fellow CA) (85093 Points)
Replied 29 October 2013

Dear jay,

Unfortunately, 139(4) return cannot be revised. One question, whether your tax return is showing net tax payable ?

(Guest)

Originally posted by : Nikhil Kaushik
	Dear jay, Unfortunately, 139(4) return cannot be revised. One question, whether your tax return is showing net tax payable ?

Hi Nikhil,

Thanks for replying. As I see in the printed form the net Tax payable shown is "zero". In fact all columns are zero except for total income that consists of the wrong amount I entered. The total tax payable and every other tax payable shown is 0.

I wonder if I don't send this printed return verification within 120 days the ITR may get rejected and removed and may be within that time I may file a physical/manual paper ITR that may correct this mistake. What do you say?

Any other idea?

Nikhil Kaushik (Fellow CA) (85093 Points)
Replied 29 October 2013

if u have sent the return, then u are really really safe. Don't send the ITRV. File manual return or file belated return again. Send ITRV against the new return.

(Guest)

Originally posted by : Nikhil Kaushik
	if u have sent the return, then u are really really safe. Don't send the ITRV. File manual return or file belated return again. Send ITRV against the new return.

I'm sorry, I didn't get you. Can you clarify it a bit further.

A little more details : I filed the ITR online so the process is incomplete unless I send the verification letter I printed to the IT CTC in Bangalore.

Nikhil Kaushik (Fellow CA) (85093 Points)
Replied 29 October 2013

Yes. thats exactly what I intend to convey. I don't want you to complete the process. If you don't send the ITRV, income tax cannot process your return. Thereby no question can be raised with regards to the return already filed.

So you may refile your tax return through offline or online mode. In case you choose online mode, you may send ITRV for the new return.

(Guest)

I get you now. I suppose I should not complete this process(by not sending the verification form) so that this is completely cancelled/rejected. In the mean time I'll file another ITR manually with a paper form. Another help can you please tell me to whom do I submit the paper ITR after filling it up? I've never filed offline.

And thanks a ton for the help :-)

Nikhil Kaushik (Fellow CA) (85093 Points)
Replied 29 October 2013

first try to refile belated return online. If it doesnt accept, then file offline return with the local tax office.

(Guest)

Thanks a lot sir. Have a great evening.

(Guest)

Originally posted by : Nikhil Kaushik
	first try to refile belated return online. If it doesnt accept, then file offline return with the local tax office.

Hi,

I tried filing the ITR online again but it shows that only one ITR can be filed so not allowing me to go through. I also got a paper form filled up and went to the local tax authority but they said that the ITR could only be filed online and there is no option for manual filings anymore. Now I'm in a situation where I literally see no way out.

Any suggestions?

CA Vanamala Phani Kumar (Proprietor of M/s Vanamala and Co) (972 Points)
Replied 05 November 2013

Originally posted by : Jai Bajaj
	Originally posted by : Nikhil Kaushik first try to refile belated return online. If it doesnt accept, then file offline return with the local tax office. Hi, I tried filing the ITR online again but it shows that only one ITR can be filed so not allowing me to go through. I also got a paper form filled up and went to the local tax authority but they said that the ITR could only be filed online and there is no option for manual filings anymore. Now I'm in a situation where I literally see no way out. Any suggestions?

I think u are filing return as orginal Return

Note that file return must be as Revised Return

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(Guest)

Originally posted by : PHANI KUMAR VANAMALA
	Originally posted by : Jai Bajaj Originally posted by : Nikhil Kaushik first try to refile belated return online. If it doesnt accept, then file offline return with the local tax office. Hi, I tried filing the ITR online again but it shows that only one ITR can be filed so not allowing me to go through. I also got a paper form filled up and went to the local tax authority but they said that the ITR could only be filed online and there is no option for manual filings anymore. Now I'm in a situation where I literally see no way out. Any suggestions? I think u are filing return as orginal Return Note that file return must be as Revised Return

OK. Correct me if I'm wrong but you intend to say is I should not send the ITRV for the original(error) return but instead should fill up another revised return and send the ITRV for the revised one? Is it?