Revision of itr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2014 On checking I found some mistake in my return 0f A.Y 2013-14 ( FY 2012-13 ). I was checking the rules of revision . As I could understand that it can be revised up to march 31st, only if the assessment is not completed. I have received 143 (1).Can I revise the ITR now, if yes by which date ? Thanks

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 December 2014 Receipt of 143(1) is not completion of assessment. You can revise upto 31.03.2015 provided the original return was submitted within due date.

Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2014 Thanks Sanjay I am a retired person 68 years old , hence little more worried I was going through a presentation https://www.youtube.com/watch?v=5cEZKNU08bA
it says ,one has to file rectification if 143 (1) has been issued.whatever you says seems to be correct .
Other thing is last date for revision for Assessment Year 2014-15 will be 31st march 2015 or march 31st 2016.
thanks again for your help.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 December 2014 Revised Return of Income Tax can be filed by an assessee any time before the expiry of 1 year from the end of the Relevant Assessment Year or before the completion of assessment, whichever is earlier.

In your question you have written return of AY 2013-14. Accordingly last date will be 31.03.2015. For AY 2014-15 last date will be 31.03.2016.

Intimation u/s 143(1) is not treated as completion of assessment. You can also make rectification u/s 154.

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