Return revision

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2011 Hi All
I e-filed my return for AY11-12 on time and as per calculation, a refund of Rs 280 was determined. I have recently received the refund as well as intimation under 143(1). Now I have realized there were some errors in my original return regarding my total income and there is actually some tax liability. Now I have two questions -
1) Should I file a revised return or rectify it? If it is rectification, how do I do it?
2) How should I treat the Rs 280 refund while filing the revised / rectified return

prasad

prasad (Expert)
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26 December 2011 if u hav recd 143 (1) intimation option of revised return is no more.
You can rectify the return U/s 154.
Open ur original return and rectify whatever the mistakes generate fresh xml file.
Now go to ur account under Income TAx. There there is an otion of rectification under my account.
read the instructions properly fill up the data needed and upload the rectified return.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2011 Thanks Prasad.
I read somewhere on this forum that intimation is not really assessment order and revision can still be done. Hence the confusion.

Do I need some confirmation from IT dept before filing my rectification or can I do it voluntarily.

Also, how do I treat the Rs 280 of refund received?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 December 2011 From A refund of Rs.280, you can not treat well. An year end party will cost something more. You may deposit this cheque into your bank account.
.
You are right. You can file a rectification request. If you are certain about the demand also pay the tax, whatever is due as per your information. Do not forget to Add Rs 280 more in that actual liability+EC+HEC+Int amount.
.
CPC - will gratefully accept your rectification request. (Do not hope for any Party)

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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26 December 2011 Totally Agree with Paras Sir

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2011 Thanks Paras Sir. One more question. Will their be any penalty u/s 271(1)(c)? I have read about this on some thread on this forum only.

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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21 July 2025 Great questions! Here’s a clear breakdown for you:

Revised Return vs Rectification

Since you’ve already received the intimation under section 143(1), technically the original return is processed. After this, you cannot file a revised return for that assessment year.

Instead, you should file a rectification application under section 154 of the Income Tax Act. This allows you to correct mistakes in the processed return.

You can do this online by generating a rectification request in your e-filing account, uploading the corrected return XML.

Treatment of the Rs. 280 Refund

The refund you received should be added to your tax liability while making the payment for the additional tax due on rectification.

In other words, calculate the total corrected tax liability, subtract the Rs. 280 already refunded to you, and pay the balance along with applicable interest (if any).

Penalty under Section 271(1)(c)?

Penalty under 271(1)(c) can be levied if the Assessing Officer feels that you have concealed income or filed a false return.

However, since you are voluntarily coming forward to correct your mistake by filing a rectification and paying the additional tax along with interest, penalty is generally not imposed.

Still, the decision lies with the Assessing Officer. Timely correction and payment reduces chances of penalty.

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