Rectification of return u/s 154

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2012 A return has been filed (duly audited)with turnover of 58lacs,however at the time of filing of belated return, a mistake was made by showing assessee not liable to maintain books of account and also not liable for audit.

can this mistake be rectified under section 154 as audit was done for lower income

Pankaj Gandhi Jaiswal

Pankaj Gandhi Jaiswal (Expert)
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20 March 2012 Yes it can be done

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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21 March 2012 No sorry once you have a belated return this means you have filed the return beyond the period as mentioned u/s 139(1) and the returns filed u/s 139(4) cannot be rectified. It is also material how you have filed the return. If you filed efiling then totally no otherwise you can file in physical form but that may not be taken into consideration as there are many case laws against this and no belated returns can be revised as per the Act.

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