Rectification of mistake u/s 154
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2013
In respect of the Asst.Year 2012-13 , ROI relating to Business Income has been filed in time for an assessee who is covered U/s 44AB. Recently,The assessee is in receipt of the intimation U/s 143(1) for the above ROI.
Unfortunately, certain transactions involving capital gains were not included in the ROI filed for the Asst.Year 2012-13.
Please clarify as to whether should the ROI be rectified U/s 154 or should the ROI be Revised U/s.139(9)?
Unfortunately, certain transactions involving capital gains were not included in the ROI filed for the Asst.Year 2012-13.
Please clarify as to whether should the ROI be rectified U/s 154 or should the ROI be Revised U/s.139(9)?
12 August 2013
Rectification u/s 154 is for a mistake apparent from record.
Omission to include certain income is NOT mistake apparent from record. Accordingly rectification application CANNOT be filed u/s 154.
The assessee has to file a revised return.
Omission to include certain income is NOT mistake apparent from record. Accordingly rectification application CANNOT be filed u/s 154.
The assessee has to file a revised return.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- Banking Related Issue
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- IT returns for fresh job holders
- Due Date Clarity
- NRI INSURANCE ADVISOR
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
