Diff b/n revised return and rectification of return.

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This query is : Resolved

Balusubramanyam Gelasam (Querist)

31 October 2013 Plz anyone can help me to know the following. 1. when return rectification needed ? and 2. when the return is revised ?

CA Vijeta Verma

CA Vijeta Verma (Expert)

01 November 2013 If you think that the information you have given in the return is incorrect or false or there is some computational error or there is some omission of relevant information then you can file revised return before expiry of 1yr from the end of relevant A/Y or before the end of ongoing assessment if any

CA Pallav Singhania

CA Pallav Singhania (Expert)

01 November 2013 A taxpayer can rectify his income tax return online if there is an apparent mistake in the return already filed. The change can be effected only after the taxpayer has received an order under Section 143(1) from CPC Bangalore for the e-return. Rectification enables correcting the error and refilling the return for assessment.

Whereas, If you missed declaring an income you can revise this through a revised return. Or if there is mistake in any other statement you can correct the error by filing a revised return.

You can revise your income tax return any time until completion of 1 year from the end of relevant assessment yearor before your assessment is done by the tax department, whichever is earlier.

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