one of our client filed a itr for the A.Y. 20011-12 on 30.7.2011, with refund (applied) Rs. 2900, but while filing the return he was not fill the depriciation schedule(block wise), but charged depriciation in profit & loss account, now befor 2 days he received intimation u/s 143(1) and found that IT department disallowed the depriciation of Rs. 8000 and refund payable (as per dept.) 2100. now my question is whether we file his rectification/revise return or no responce (he will satisfied if received 2100 instead of 2900).
Menu
143(1) intimation
Replies (10)
i think u must rectify the return,
rectify the return..
File rectification under sec 154 online. The error can be rectified in the XML that is to be attached while filing it online.
you will recieve the corrected intimation within short time
thanks for your valueable suggestion,,,, should i fille full xml file(a fresh file) for rectification, if not then, how? (procedure)
It depends on the type of intimation u have received.
if u have received 143(1) Intimation then the "Rectification u/s. 154" is to be filed.
Now a days dept has for depreciation and other small defects started giving 139(9) notices in that case u have to "Revise the return within 15 days of the receipt of the intimation"
Rectification should be done by filing the return u/s 154.
yes u can revise your return
rectification u/s 154 should be done..,
Yes rectification u/s 154 should be filed as a reply to 143(1)
One needs to understand when to file a rectification application and when to revise a retrun of income. If there is an ommission or wrong statement in the retrun filed by the assessee a revised retrun can be filed provided the first retrun was filed within 139(1) time limit whereas a rectification application can be made where there is a mistake appartent from record.
Non updation of depreciation schedule in the return in my opinion should be considered as ommsiion rather than mistke apparent from record. Since in the given case retrun was filed within 139(1) period thus assessee should file a revised retrun to claim the amount of refund.
Recent Threads
- Un claim ITC
- Form 49AA - OCI card holder applying for PAN card
- Section 54f and Sale between father and Son.
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
Related Threads
CAclubindia
