Income tax return

This query is : Resolved

CA Chandan Agarwal (Querist)
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16 July 2010 A income tax return for Asst. Year 2008-09 was filed belated on 31.3.2009.By mistake income was computed higher than should be.Intimation u/s 143(1) has been passed by department. Is there any way to assess the return correctly.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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16 July 2010 Belated return can't be revised.
There is no way to correct return..

Krishan

Krishan (Expert)
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16 July 2010 Yes, Belated return can't be revise...

Srikant

Srikant (Expert)
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16 July 2010 Belated Return cannt be revised.

You have the following options:
1. If there is any mistake which is apparent from the records in your Return and the same has also been ignored by Dept, then you can claim Rectification of such mistake U/S 154 of the Act.

2.Appeal

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 July 2010 Dear Mr. Srikant,

Rectification u/s 154 , is when a person has file correct data, but AO has issued Intimation u/s 143(1) without considering any data from that like tds etc.

Second option appeal against what ?

Other Expert's view are solicited.

CA V. Mohanakrishnan

CA V. Mohanakrishnan (Expert)
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20 July 2010 SEc 154 would have been applicable if the return was filed on time and the mistake should have been apparent on record.

this is being a belated return, it would not be required to go into what where the errors or reasons of wrong return of income.

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