Wrong Filling of ITr

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This query is : Resolved

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A user mistakenly filed an ITR-5 for a partnership firm using the 'Pay Later' option, despite having a tax liability. They are seeking advice on whether to file a revised return immediately or wait. The consensus is to file a revised return promptly, including the tax payment and any applicable interest, rather than waiting for an order from the CPC.

Kunal bhorde

Kunal bhorde (Querist)
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18 August 2023 I have filed ITR-5 With "Pay later" option. ITR of partnership firm which have liability around 4K.
what to do in that case. i have to file revise return or wait? or I have to make payment of it ? what should i do ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 August 2023 File revised return with payment of tax.

Kunal bhorde

Kunal bhorde (Querist)
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18 August 2023 thank you for guidance sir.
is there any changes of tax liability for the same like interest
i can file revise return now and don't wait for CPC order right sir?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 August 2023 Yes, don't wait for.
Check ITR for interest charges.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)
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20 August 2023 This seems to be unnecessary time waster. The IT Dept should have just allowed to add the challans details if we are paying at a later date of course with interest amount

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