Mistake in itr
This query is : Resolved
14 April 2017
I have filed ITR for AY 2016-17 on 29/03/2017
Return is E-verified on 30/03/2017
It is Nil Tax Return with Gross Total Income of Rs. 298000 and Deduction u/s 80C 30000.
Status of ITR at present is: Successfully E-verified
(i.e. it is at present not showing that ITR processed)
Now the Problem is Gross T/o is Rs. 11,20,000 but by mistake it is filed 31, 20,000.
Is there any solution make rectification of this?
What consequences could be there now? (as profit %age in earlier retturns is 25-26% but now due to wrong T/o it comes to 9%)
What should I do now??????
Please provide solution
Thanks
Return is E-verified on 30/03/2017
It is Nil Tax Return with Gross Total Income of Rs. 298000 and Deduction u/s 80C 30000.
Status of ITR at present is: Successfully E-verified
(i.e. it is at present not showing that ITR processed)
Now the Problem is Gross T/o is Rs. 11,20,000 but by mistake it is filed 31, 20,000.
Is there any solution make rectification of this?
What consequences could be there now? (as profit %age in earlier retturns is 25-26% but now due to wrong T/o it comes to 9%)
What should I do now??????
Please provide solution
Thanks
CA R SEETHARAMAN
(Expert)
14 April 2017
As the turnover is more than 8% your return will be processed.
CA R SEETHARAMAN
(Expert)
14 April 2017
It is a belated return you can't revise it now.
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