Two itr in same year
This query is : Resolved
CA SONI KRUNAL
(Querist)
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..
Amol S Joglekar
(Expert)
27 November 2012
The subsequent return shall be regarded as REVISED return.
Amol S Joglekar
(Expert)
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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