interest on FD
This query is : Resolved
07 July 2011
In the AY10-11, interest income was not declared & relief under sec 89 was not claimed from the employer. Now can he submit a revised return with both the corrections. However TDS was deducted by the bank for bank interest.
1.Can he file a revised return and claim a net refund as the tax liability also increases with the increase in taxable income?
2. Under what section should he file the revised return
1.Can he file a revised return and claim a net refund as the tax liability also increases with the increase in taxable income?
2. Under what section should he file the revised return
07 July 2011
If assessment is not completed, revised return can be filed under section 139(5) of the Income tax Act,1961.
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