After Audit & IT Return filed, Received NewTDS certificate

An Assessee, (Proprietory concern) whose Tax audit is done & return is e-filed before 30-09-2009. Thereafter he receives form 26 AS from NSDL, showing therein more TDS, than claimed in the original IT Return.

In accounts only Debtors balance reduced and IT Refund amount increases.  Assessee have to file revised e-return. Whether accounts are to be re-audited ? If yes is there any penalty for re-audit carried out after 30-09-2009?  Please advise.  I am very thankful to you.

Valerian D'Souza,

Manager Account of a Private Limited Company

 

Replies (4)

IF the TDS amount is Material then GO ahead and file a revised return, and Audit report can be revised anytime(as now we neednot file audit report with the department)

Just file a revised return. Thats enough. But remember, you could file revised return only upto 31st march 2011. However, if the income tax department completes the assessment of your return earlier, then you can not file a revised return.

Also, you will need the acknowledgement number and date of filing of original return in order to file a revised return.

If amounts is material then required. As such there is no penalty for re-audit.

As said by friends file a revised return....

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