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Can i file revised return now?

Vunu (Developer) (135 Points)

28 March 2018

ITR1 for AY 2016-2017 was filed after the due date on 2016/12. It was successfully processed and refund is received.

ITR1 for AY 2017-2018 was filed before due date on 2017/07. It was successfully processed and refund is received.

My question :

Can I file revise return for AY 2016-2017 and AY 2017-2018 before 2018/03/31?

I need to add few amounts related to FDs.

Please reply soon.

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5 Replies

Rahul Prajapati (Student) (2282 Points)
Replied 28 March 2018

BEALTED RETURN FOR AY 2016-17 CAN'T BE REVISED.

YOU CAN REVISE FOR AY 2017-18

Budget, 2016, w.e.f. 1st April, 2017, now the belated can also be revisedin the same way as the returns filed within due dates are revised i.e., within 1 year from the end of the relevant Assessment Year or the assessment been made by the department, whichever is earlier.

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 28 March 2018

YOU CAN'T REVISE FOR A/Y 2016-17

HOWEVER, YOU CAN REVISE THE ITR FOR THE A/Y 2017-18 TILL 31-03-2018

Vunu (Developer) (135 Points)
Replied 28 March 2018

Rahul-ji, Naveen-ji, Thank you. As the ITRs also already processed can I skip revising it? Because even though if I file now, there is no tax liability. Just I wanted to show few amounts related to FDs and few amounts related to Exempt Income. Please suggest.

Rahul Prajapati (Student) (2282 Points)
Replied 28 March 2018

AS PER MY VIEW THERE IS NO NEED TO DISCLOSE, AS YOU SAID, IT AS THERE WOULD BE NO TAX LIABLITY.

SORRY TO SAY BUT TAKE ANOTHER ADVICE ALSO. I M NOT EXPERT

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 28 March 2018

Originally posted by : Vunu
	Rahul-ji, Naveen-ji, Thank you. As the ITRs also already processed can I skip revising it? Because even though if I file now, there is no tax liability. Just I wanted to show few amounts related to FDs and few amounts related to Exempt Income. Please suggest.