Suppose an assessee has filed his income tax return within the time limit which has income tax refund of Rs 5000/-. Later on, the assessee found that he missed an income in his original return. Hence he filed the revised income tax return and consequently now revised return has lesser income tax refund, say Rs. 1000/-.
Now, income tax department has refunded the amount as per original return.
Please confirm what should assessee do now:
1. He should pay the difference amount as self assessment tax
2. He should wait for instructions from Income tax department.
CAclubindia
