How to revise the return filed on 30/03/2012 for a.y 2011-12

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This query is : Resolved

CA. Naveen Jain (Querist)

08 September 2012 my client is a partner in a partnership firm. ha has filed his ITR for A.Y 2011-12 on 30/03/2012 but forgot to add his agriculture income in his ITR not what is the way to add his agriculture receipts in his ITR as reveiving are 15 lacs in his saving account.

And if he does not show that agriculture income, he can get the notice from A.O for cash crediting in his saving account more than 10 lacs.

Pls guide

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

08 September 2012 As per section 139(5) revise return could be file those return filed with in due date under section 139(1) and the time limit for filing of revise return is with in one month from the completion of such return related assessment year or before completion of assessment which is earlier.

So according to the above provision you could not eligible for revise return due to the original return not filed with the due date prescribed under section 139(1). However the mistake is on our side i.e the benefit due to revise return goes to the IT department so file revise return by considering the Agricultural income and pay taxes know if any payable. It may be acceptable by the AO. In case AO not consider this or you received any notice then you have a choice because you try to correct your mistake.
So my suggestion is file revise return even though not a valid return according to the section 139(5).

OM SAI SRI SAI JAI JAI SAI

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

08 September 2012 Dear One,

Return Now Can't Be Revised Since Was Not Filled in Due Time.
Only Can be Revised if Filed in Due Date.
& Secondly, Agriculture Income Credited in Personal Ledger of Partner, So Its His Personal Income, Not Firms Income, Right ?

So In This Case, Check With The Partners Personal Return, if There is Any Tax Liability Arise by Adding Agri Income, Then Pay Tax.
& If Not, Then Wait For Dept Notice.

CA. Naveen Jain

CA. Naveen Jain (Querist)

08 September 2012 Thankx for ur valuable suggestion. One moe thing pls tell, the original return was filed manual so now can we file the revise return online in this case

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

08 September 2012 No, The revised return should be file in the form of original return filed.

OM SAI SRI SAI JAI JAI SAI

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