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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

Message likes : 1 times

Guest

Guest (Querist)

16 February 2011 Thank you Sir.

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