Rectification u/s 154

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kunal

kunal (Querist)
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25 March 2013 sir please tell is rectification u/s 154 possible during scrutiny assesment?

Anand

Anand (Expert)
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26 March 2013 Rectificationn of what? the assessment order?

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kunal

kunal (Querist)
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28 March 2013 actually assessee treated his rental income and housing loan interest in P&L A/c instead of Income under head house property..
due to this assessee didn't claimed 30% statutory deduction u/s 24..

now he wants rectify the same.. can he do so??

Anand

Anand (Expert)
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29 March 2013 What you are referring to is a revised return. You can file a revised return within one year from the end of assessment year or before completion of the assessment proceedings for the said year ehichever is earlier.

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CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
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30 March 2013 if time limit of filing revised return has expired than file revised computation before AO with the request to consider the same and allow the deduction of 30 %, also write that none of the law permit to collect the tax more than what is legitimately due, also the benefit / allowances / deduction allowed by the act can not be denied to the tax payer just because of his ignorance.

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