Query reg applicability of Revised Return or Rectification
This query is : Resolved
Guest
Guest
(Querist)
15 February 2011
Dear Friends / Experts,
Please advise me on the following :
A, an individual filed his income tax return on 31.07.10 and also got the refund by way of Intimation under Section 143(1).
On verification with a professional, A realised that his accounts was subject to Tax Audit due to Share Trading Transactions exceeding the prescribed limit.
Query
Whether A should file the Revised Return or Rectification ?
Ans : .................
How to proceed on the matter ?
Ans : .................
I shall wait for your views.
Thanks.
DK.
Please advise me on the following :
A, an individual filed his income tax return on 31.07.10 and also got the refund by way of Intimation under Section 143(1).
On verification with a professional, A realised that his accounts was subject to Tax Audit due to Share Trading Transactions exceeding the prescribed limit.
Query
Whether A should file the Revised Return or Rectification ?
Ans : .................
How to proceed on the matter ?
Ans : .................
I shall wait for your views.
Thanks.
DK.
16 February 2011
1) Revised return may be filed u/s 139(5).
2) Accounts may be audited and return may be filed as in (1) above.
2) Accounts may be audited and return may be filed as in (1) above.
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Guest
Guest
(Querist)
16 February 2011
Thank you Sir.
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