I am a retired PSU man and My total income through Interest is about 5 lacs, For last two years I am filling ITR2 And showing F& O losses as capital loss. How ever i amm not liable to any tax because i have taken Insurance and ELLS to save from income tax. Now i want to correct this mistake , what should i do?. Please give me suitable advise so that i can act accordingly this year.
Thanking you
Anil
Dear sir,
please find below my opinion,
u can filed the revised return u/s 139(5)
but there is certain limitation
Revised return can be filed by Assessee any time before the expiry of 1 year from the end of relevent assessment year or befor the completion of assessment (which ever is earlier)
Revised return u/s 139(5) is allowed only if the mistakes are unintentional . This section only apply to the case of ommission or wrong statements.
As i have incurred only losses ,so i have to get the account audited , before filing the revised returns. is it possible to get it done through you. assesment year 14- 15, 15-16.
Thanking you for kind reply
Anil
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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