Revised return

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This query is : Resolved

CA Himanshu Malviya (Querist)

04 March 2012 in ITR of A/y 10-11 in which i did'nt take the benefit of housing loan and pay tax but i want to revise such ITR which is allowable as per section 139(5) but i want to know whether benefit of housing loan u/s 80c will be allowed which reduced my total income and i come in no tax brakit.so is it possible to take the benefit as well as come in no tax brakit

CA. Nitin Agrawal

CA. Nitin Agrawal (Expert)

04 March 2012 Please read sec 139(5) for revised return which says that return can be revised within one year from the end of the A.Y or before completion of the assessment which ever is earlier.

So you can revise the return for the A.Y 2010-11 only when the assessment is not completed by the A.O, which i dont think so pending.

If it is pending then you can certainly file the revised return & claim the exemption omitted to be claim in the original return submitted.

Hope that the matter is resolved now.

Cheers

CA Himanshu Malviya

CA Himanshu Malviya (Querist)

04 March 2012 thank you very much

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