Two itr in same year
This query is : Resolved
27 November 2012
Dear All,
I M a Bank Manager , in one of the case in My Bank I Found that , there are two ITR for AY 2007-08.
As per customer , he has filled one ITR in particular ward and after filling the same , he came to know that it was filled in the wrong ward and after one month he has filled other ITR in the correct ward.
Is this a fair done as per income tax ? though there are same GTI and tax details in both ITR , i think he has to fil revised return , as there can not be two original ITR of the same assessment year.
Please share consequences and penatlies applicable in such default..
I M a Bank Manager , in one of the case in My Bank I Found that , there are two ITR for AY 2007-08.
As per customer , he has filled one ITR in particular ward and after filling the same , he came to know that it was filled in the wrong ward and after one month he has filled other ITR in the correct ward.
Is this a fair done as per income tax ? though there are same GTI and tax details in both ITR , i think he has to fil revised return , as there can not be two original ITR of the same assessment year.
Please share consequences and penatlies applicable in such default..
27 November 2012
The subsequent return shall be regarded as REVISED return.
27 November 2012
Your contention is absolutely CORRECT. There can NOT be 2 originals. As a banker, you take an indemnity bond from the customer that the subsequent return is revised return and the loss caused to bank,if any, on account of this shall be made good....
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