Rectification of return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2012 I had Filed A return but by mistakenly forget to Claim Depreciation What is procedure for rectification u/s 154
Return was filed on time one year from now & was filed electronically

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 June 2012 You should file a revised return.

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Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2012 can i opt for rectification u/s 154 rather than revised return
what are disadvanstages of it

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 June 2012 You cannot opt for rectification.

Rectificatio is for mistake apparent from record.

Failure to claim depreciation does not amount to mistake apparent from record.

If you claim depreciation in the rectification application, it amounts to making fresh claim, which is not allowed u/s 154.

Accordingly, you will have to file a revised return.

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