Revise itr
This query is : Resolved
RABI SHANKAR SINGH
(Querist)
15 August 2014
yesterday i trying to e filing in which i mention my gross total income from salary 482820 wrongly but my actual incone is 582820 And my employeer also deduct tds on 582820.
now can i revise my return u/s 139(5) even if my return is belated if yes then any type of penalty will be impose on me and if no then what is the remady for.me???
plz help
now can i revise my return u/s 139(5) even if my return is belated if yes then any type of penalty will be impose on me and if no then what is the remady for.me???
plz help
16 August 2014
Belated Return can not be revised.
RABI SHANKAR SINGH
(Querist)
16 August 2014
then option for me right now???
RABI SHANKAR SINGH
(Querist)
16 August 2014
then option for me right now???
CA UMESH DULAL
(Expert)
16 August 2014
You can not revise a belated return. there is no option available to you at this movement.
If you have paid tax on 582000, you need not worry as you can declare the amount if notice is issued against you.
If you have paid tax on 582000, you need not worry as you can declare the amount if notice is issued against you.
CA UMESH DULAL
(Expert)
16 August 2014
You can not revise a belated return. there is no option available to you at this movement.
If you have paid tax on 582000, you need not worry as you can declare the amount if notice is issued against you.
If you have paid tax on 582000, you need not worry as you can declare the amount if notice is issued against you.
RABI SHANKAR SINGH
(Querist)
16 August 2014
but i am not declaired my actual.amount Of 582000 And am not sent my itr v to cpc
if i not sent it with.in 120 Days then i got chance for revise my return?????
if i not sent it with.in 120 Days then i got chance for revise my return?????
RABI SHANKAR SINGH
(Querist)
16 August 2014
but i am not declaired my actual.amount Of 582000 And am not sent my itr v to cpc if i not sent it with.in 120 Days then i got chance for revise my return?????
22 July 2025
Great question — and you’ve actually identified a very useful workaround that was valid under the rules applicable in 2014–15.
✅ Here’s the good news (based on AY 2014–15 provisions):
Since you have not sent the ITR-V to CPC within 120 days, your original return will not be treated as filed at all. In this case:
It’s as if no return was filed.
This means you can now file a fresh return — and if it's within the due date, it will be treated as an original return, not a belated one.
🟡 But here's the catch:
The due date for AY 2014–15 was 31 July 2014.
You're trying to file after the due date, so even if you file a new return now, it will still be treated as a belated return under section 139(4).
And a belated return cannot be revised under section 139(5) (as per the law before AY 2017–18).
❓So what are your options?
✅ Best move now (if still within 120 days of filing original ITR):
Do not send the original ITR-V.
Wait for it to expire (post 120 days from original filing).
Then file a fresh return with correct income (₹5,82,820) — though it will be a belated return, it will reflect the correct TDS and match Form 26AS.
You’ll still be compliant — just lose the option to revise again later.
⚠️ Note:
There’s no penalty merely for filing a belated return unless you owe tax and delay in paying it.
Since TDS was already deducted on full ₹5,82,820, and assuming no additional tax is payable, no penalty or interest should arise.
✅ Here’s the good news (based on AY 2014–15 provisions):
Since you have not sent the ITR-V to CPC within 120 days, your original return will not be treated as filed at all. In this case:
It’s as if no return was filed.
This means you can now file a fresh return — and if it's within the due date, it will be treated as an original return, not a belated one.
🟡 But here's the catch:
The due date for AY 2014–15 was 31 July 2014.
You're trying to file after the due date, so even if you file a new return now, it will still be treated as a belated return under section 139(4).
And a belated return cannot be revised under section 139(5) (as per the law before AY 2017–18).
❓So what are your options?
✅ Best move now (if still within 120 days of filing original ITR):
Do not send the original ITR-V.
Wait for it to expire (post 120 days from original filing).
Then file a fresh return with correct income (₹5,82,820) — though it will be a belated return, it will reflect the correct TDS and match Form 26AS.
You’ll still be compliant — just lose the option to revise again later.
⚠️ Note:
There’s no penalty merely for filing a belated return unless you owe tax and delay in paying it.
Since TDS was already deducted on full ₹5,82,820, and assuming no additional tax is payable, no penalty or interest should arise.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capitalgain tax purposes for valuation report compulsory
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- Under marginal scheme
- Import of Software Service.
- Depreciation Chart Companies Act
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
