banner_ad

rectification u/s 154

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 January 2017 Which matters are eligible to rectify u/s 154. can I revise my itr 5 from loss of 27000 to profit of 50000. I filed my return after due date I.e. belated return.
Profile Image

sanjeev kumar goel

Profile Image

sanjeev kumar goel (Expert)
25 January 2017 Under section 154 you can not revise your ITR. Moreover belated ITR can never be revised. Under section 154 of IT Act only those matters are covered where there is a mistake apparent on record so that the mistake may be rectified. It does not mean that if there is a mistake in ITR then ITR can be revised under section 154. Rectification application may be moved by the assessee as well as by the department who ever notices the mistake on record. Mostly matters like wrong tax calculations or mismatch of tax credits or deductions claimed etc are rectified under section 154.
Profile Image

Pradeep Patidar

Profile Image

Pradeep Patidar (Querist)
27 January 2017 instead of revise.. can I rectify my belated loss return of -27000 to in profit of 50000.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
19 October 2021 Sec. 154 is applicable to rectifying any mistake apparent from the record , not for changing data of ITR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details