Priyanka (CA Final) (37 Points)
06 December 2011Kindly advise me for the following circumstance:
We have filed a company income tax return for the A Y 11-12 within the due date. The company had been making loss and the same has been c/fd but we had forgotten to claim the tds credit available to the company.Now how do we correct the return without having to file a revised return.Kindly suggest ways how to correct other than filing a revised return.
Thanks in advance
CA Devender Chauhan
(Group Financial Accountant)
(1526 Points)
Replied 06 December 2011
yogesh
(0)
(24 Points)
Replied 06 December 2011
Hi Priyanka....
There is another way...you can submit application u/s 154 for rectification of error.
Priyanka
(CA Final)
(37 Points)
Replied 06 December 2011
Isn't rectification u/s 154 done only after assessment or something?? if ts possible can you please guide me how to proceed to file the rectification.
CA Dipak
(achiever)
(238 Points)
Replied 06 December 2011
priyanka
i think any claime can only be possible by filing return of income.there is no other way according to me...,rectification is not possible u/s 154 as there was no intimation u/s 143(1) or ass. order passed in your case.
swathi
(Accounts Officer)
(349 Points)
Replied 06 December 2011
Online rectification u/s.154 is not possible, because while doing online rectification we have to mention commmunication reference number of the intimation and date of order of the intimation u/s.143(1).
only the way is you have to revise the return
Amith R
(student)
(22 Points)
Replied 06 December 2011
If you have Filed the returns with in due date then why dont you take the benifit of filing revised return ??
Are worried it might be called for Scrutiny ???
swathi
(Accounts Officer)
(349 Points)
Replied 06 December 2011
Yes, Mr.Amit Agarwal question correct?
you can utilise revised return option, if you are filed original return with in due date
sagar
(CA Final)
(379 Points)
Replied 06 December 2011
CA Shraddha (Mcom, CS Exe.)
(Service)
(224 Points)
Replied 06 December 2011
Yes agree with all.
Filing of revised return is the best remedy available in your case.
C.A. Jignesh N. Mehta
(C.A.)
(1030 Points)
Replied 06 December 2011
Agree with all, return is to be revised.
Also check whether the TDS credit is reflected in your 26AS , if not then take corrective steps to bring the certificates in 26AS
RAHUL
(SENIOR AUDITOR)
(39 Points)
Replied 07 December 2011
Revised return is the only way too do this so and kindly refer 26AS before filing this time.....
rahul
(afd)
(134 Points)
Replied 07 December 2011
If intimation not received and return filed before due date at that time you may filed revised return
CA Suraj Prasad Shaw
(Chartered Accountant)
(504 Points)
Replied 07 December 2011
If return if filed within due date then TDS can be claimed by filing a revised return.
If revised return is not filed till the end the AY then wait for the intimation u/s.143(1) and make an application for rectification u/s.154.
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