Revision of return

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2012 Dear sir, I filled return for AY 12-13 before due date and the refund for the same year has been issued. The status of return on the website is "PROCESSED".
what does this word processed means? Does it mean that assessment is completed? Can I revise the return for that year?

Pls reply urgently.....

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 December 2012 Processed means that the return has been processed u/s 143(1).

It does NOT mean assessment. Accordingly you can still file a revised return.

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CA Pramod Jain

CA Pramod Jain (Expert)
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06 December 2012 on or before 31.03.2013 return can be revised

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Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2012 Thank you all for your reply.....
Pls also tell that in case of original return I had income of Rs 110000 and refund of 11000 Rs and in revised return I wants to show a tax of 1000 Rs. Will it attract penalty for concealment of income or any other penalty?? Also is there any chance that my case will be taken for scrutiny??

CA Pramod Jain

CA Pramod Jain (Expert)
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06 December 2012 no u can go ahead with revision, no penalty will be attracted.

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