Revise tax

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This query is : Resolved

sunil (Querist)

23 July 2014 Hello Experts,
i have filed my 2012-2013 taxes before time (31st july 2013). But i missed to declare some capital gain due to some issues. I want to revise my tax. Can i do it now?
I found someone telling me that i cant revise tax under section 139(5) if my previous year return was approved in assessment by AO.
Can someone please guide on the process?
Also for a foreign stock thats not listed in india, is their a difference between long term and short term gain? Or i have to pay flat 20% on capital gain?

thanks
sunil

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 July 2014 if u havent rec ur assessment order still u can file revsied return till 31.3.2015 for ay 13-14 so go ahead and file it asap.

sunil

sunil (Querist)

23 July 2014 Thanks Tushar,
But i did not get the answer, did you mean to say that even if i have received my AO i can revise tax? or its other way around?

thanks
sunil

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 July 2014 no , once u rec ur assessment order then u cant revise then u need to file rectification petition u/s 154.

sunil

sunil (Querist)

23 July 2014 Thanks again,
Is there a way to find out whether my AO was generated? So say if i haven't received any notice/order does this mean that i dont have a AO yet?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 July 2014 if u havent rec it then u can revise ur return..............

Message likes : 1 times

sunil

sunil (Querist)

23 July 2014 Thanks a lot Tushar!
Appreciate your help.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

23 July 2014 you are welcome sunil..........................

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