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Income tax return filing

KUMARASWAMY (Accountant) (73 Points)

11 December 2013

Dear Sirs.

One of my friends who is a government employee filed his return of income for the PYE March 2012 & March 2013 as per his Form 16 without considering bank interest income. Is it Ok if the two return are revised with proper tax & Interest duly paid.

Regards

KUMAR

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2 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 11 December 2013

U/s 80TTA, interest from bank saving account not exceeding Rs. 10,000/- is exempt from tax. If one wants to keep the records "perfect", then one may file revised return provided it was filed before due date.

@*CS Siddharth Bumb. * (B.Com, CA Final, CS ) (5270 Points)
Replied 11 December 2013

Agreed with Mihir Sir, but you can file revise return only if original return is filed as per section 139(1) i.e. within due date.

Originally posted by : Mihir
	U/s 80TTA, interest from bank saving account not exceeding Rs. 10,000/- is exempt from tax. If one wants to keep the records "perfect", then one may file revised return provided it was filed before due date.