Filing of revised return

This query is : Resolved

mangesh dhumal (Querist)
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20 September 2013 A SALARIED assessee has filed her Income Tax return for F.Y.2010-11 i.e.A.Y.2011-12 before due date. The income tax department issued notice of scrutiny to the assessee in August, 2013. The assessment has begin just now and the assessee noticed the error committed by her now. Can assessee revised her Income Tax return for A.Y.2011-12 now i.e. during the process of her assessment and before completion of the assessment and produce the copy of revised return along with original return before the Assessing Officer?

Ratan Sharma

Ratan Sharma (Expert)
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20 September 2013 If the return is filed before july 2011 then notice for scrutiny can be issued upto sept 2012 . In your case the department can not issue you scrutiny notice u/s. 143(2) in August 2013. It will be invalid itself. It might be notice u/s. 148 for reassessment. No you can not revise the return of income as the time for revising the return has already lapsed as on 31/03/2013.In case there are some errors in original return and you have accepted the same then it is better to surrender the income voluntarily during the course of assessment proceedings. The question will be just of penalty on such addition. Everything will depend on your reply. If the assessee has acted bonafidely and innocently & co-operating during assessment proceedings then no penalty can be levied. Dont worry file the reply wisely.

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