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Belated return revised

01 August 2022

i have shown less income in belated return to avoid late fee. can I revise the belated return and shown the correct income now ?

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11 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 02 August 2022

Yes. You can do it for 2022-23 AY only

5 Like

sabyasachi mukherjee (26132 Points)
Replied 02 August 2022

For current assesment year it is possible.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 03 August 2022

@ Prithviraj ,

For which Assessment Year ?

You can use updated return u/s 139(8A) if you want correct details of earlier years

5 Like

sabyasachi mukherjee (26132 Points)
Replied 03 August 2022

What is the materiality of the figures not reported?

1 Like

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 03 August 2022

Use updated return instead of revised return

5 Like

veerendar singh (tax consultant) (3301 Points)
Replied 03 August 2022

Yes
use updated return

CA Rashmi Gandhi (Chartered Accountant) (86275 Points)
Replied 03 August 2022

Updated return is to be used only after the due date is over. So use revise return and declare correct income

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 04 August 2022

The queriest has not given information about AY for which he want revision

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86275 Points)
Replied 04 August 2022

He will self consider what he want to know

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 20 August 2022

Revised return or updated return can be based on AY in this case

CA Rashmi Gandhi (Chartered Accountant) (86275 Points)
Replied 20 August 2022

I also know this

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