Revision of itr

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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)

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)

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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