Rectification for return
This query is : Resolved
Harpreet Singh Kalra
(Querist)
23 April 2013
One of our client filed his online ITR for Asst year 2011-12 in July 2012.
He has salray income and loss from house property(Intt on loan for self occpied propertry) in his Form 16.
Mistakenly while filing the retrun he has ommit to consider the Loss from HP part and filed the ITR with salray income only but he has taken Taxes as per his form 16 which were calcuated net of House property loss
Later on he has recived a demand letter from ITO for less deposition of Taxes as per declared income in ITR.
My questtion is that can he file recetification for ommision of HOuse property loss now and take adjsutment of his demand.
He has salray income and loss from house property(Intt on loan for self occpied propertry) in his Form 16.
Mistakenly while filing the retrun he has ommit to consider the Loss from HP part and filed the ITR with salray income only but he has taken Taxes as per his form 16 which were calcuated net of House property loss
Later on he has recived a demand letter from ITO for less deposition of Taxes as per declared income in ITR.
My questtion is that can he file recetification for ommision of HOuse property loss now and take adjsutment of his demand.
23 April 2013
File Revise Return if allowed and then reply to notice that i have filed revised return.
IF system do not allow to file revise return you have to write letter suitably clarifying this
IF system do not allow to file revise return you have to write letter suitably clarifying this
Harpreet Singh Kalra
(Querist)
23 April 2013
Actually my client has already got the Intimation u/s 143(1). Can he still file revised return.
If no then what can be the soultion available with us
If no then what can be the soultion available with us
23 April 2013
Technically no revision of return can be made as per sec.139(5).
However online return allows you to file revised return though you have received intimation.
The last option is to answer suitably to AO
However online return allows you to file revised return though you have received intimation.
The last option is to answer suitably to AO
Harpreet Singh Kalra
(Querist)
23 April 2013
Is there any possiblity for rectification u/s 154
CA.Sourabh Sethia
(Expert)
23 April 2013
yes Revised return can be filed if the return is filed on or before the due date
as because intimation U/s. 143(1) is not an assessment order its just an intimation not an order
or
you can File rectification application U/s. 154
as because intimation U/s. 143(1) is not an assessment order its just an intimation not an order
or
you can File rectification application U/s. 154
24 April 2013
The issue has been discussed perfectly well in the another query raised on caclubindia.
Which says that 143(1) is just intimation and not assessment hence revised return can be filed. Further it is worth noting that if some mistake is in income tax return itself - same cant be rectified any how U/s.154.
https://www.caclubindia.com/experts/revised-return-after-intimation-u-s-143-1--766210.asp#.UXenfkqxmyo
Which says that 143(1) is just intimation and not assessment hence revised return can be filed. Further it is worth noting that if some mistake is in income tax return itself - same cant be rectified any how U/s.154.
https://www.caclubindia.com/experts/revised-return-after-intimation-u-s-143-1--766210.asp#.UXenfkqxmyo
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