Wrong Filling of ITr

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This query is : Resolved

Quick Summary

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)

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)

18 August 2023 File revised return with payment of tax.

Kunal bhorde

Kunal bhorde (Querist)

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)

18 August 2023 Yes, don't wait for.
Check ITR for interest charges.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

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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