Wrong dta calculation invites scrutiny???
This query is : Resolved
09 October 2015
Dear sir
While filing itr of a company, depreciation as per income tax act taken wrongly, however it does not affect tax liability of the Company as there were business losses and unabsorbed depreciation. Shall I revise the return or leave it as it is? Are there any chance of scrutiny for this particular year.
09 October 2015
Hi Gyati,
It is advisable to revise the return and correct the particulars if the return was filed within due date
It is advisable to revise the return and correct the particulars if the return was filed within due date
09 October 2015
If mistake is in deferred tax calculation only, no need to revise the return. This mistake alone doesn't invite scrutiny.
10 October 2015
Thank you both for your suggestions..
10 October 2015
This is your point of view that Wrong calculation invites scuritny.
Scrutiny notice is to be replied at any cost. Even if you revise return, it will have no impact on notice at all.
But my point of view is department has issued notice under 143(2) asking for books not scrutint notice.
Scrutiny notice is to be replied at any cost. Even if you revise return, it will have no impact on notice at all.
But my point of view is department has issued notice under 143(2) asking for books not scrutint notice.
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