Assessment year mistake

Sir, You can submit a fresh IT return for the A.Y 2013-14, because you are not filed it earlier. And in the case wrong return filed for the A.Y-2012-13, you can rectify the retun after receiving intimation u/s 143 of the IT Act.

Originally posted by : DINU SUKUMAR
	Sir, You can submit a fresh IT return for the A.Y 2013-14, because you are not filed it earlier. And in the case wrong return filed for the A.Y-2012-13, you can rectify the retun after receiving intimation u/s 143 of the IT Act.

Thanks Dinu.

I have submitted the fresh IT-Return for 2013-14.

What to do with the outstanding amount ? should i pay it or can it be settled somehow.

Thanks,

-Vinod.

When the return is filed for AY 2013-14, then you would have mentioned the tax paid details including TDS. If the tax is paid well in  advance, ignore the issue as you have paid tax for relevant AY.

For AY 2012-13, you will receive an intimation saying that return is defective. What I understand from your Query is:

1. You have not filed return for AY 2012-13 earlier. Bcoz IT website does not accept the return twice for same AY unless it is a revised return

2. You also say that your employee has deducted TDS, of which details would have been mentioned in your IT Return. Since the details of AY 2013-14 is entered in AY 2012-13, definitely notice would be received u/s 143, asking you to rectify the mistaike.

So now you only wait for the notice.

sir, i think you wrongly entered AY2012-13 instead of AY2013-14. Hence the return is not defective and you should receive intimation u/s 143 stating demand of outstanding tax amount. That time you can rectify the mistake by filing rectification return u/s 154 by entering write particulars for the AY2012-13 ie. FY 2011 -12 as per form 16. Regards