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Itr 2 - urgent

05 August 2013

I forgot to mention the details of the gratuity received of my client who was a non-government employee, now an NRI.

the gratuity received is exempt, and the return was filed u/s 139(4) of NRI. i.e. a belated return, and as we know that a return filed u/s 139(4) cannot be revised. I should have shown it under the tab EI in row 5, other exempt income, but somehow in a hurry, missed it.

So, PLEASE CAN ANYONE LET ME KNOW THE CONSEQUENCES, IF ANY.. !!

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6 Replies

C.A. Jignesh N. Mehta (C.A.) (1030 Points)
Replied 05 August 2013

even if you have selected the return u/s 139(4) , the return will be treated as filed u/s 139(1)

the advice which can be given is go ahead and revised the return of income and include the gratuity as exempt income.

Aditya Narkhede (Article) (35 Points)
Replied 05 August 2013

But the return was filed for assessment year 2012-13.. ie previous year.

C.A. Jignesh N. Mehta (C.A.) (1030 Points)
Replied 05 August 2013

then you have no other option but to file a letter with ITO and send this information.

However the same will not be treated as part of return.

The letter is only a disclosure but not accompanied by a return.

There are no consequences as the income is exempt.

Nirmit Choraria (CA Final) (1333 Points)
Replied 06 August 2013

I am having one query where in the retun i must write the Interest paid on Home Loan in ITR 2 ???

As whenm i enter it in the House property sheet it is not taking in the total income??

Aditya Narkhede (Article) (35 Points)
Replied 06 August 2013

To Nimit, In tab house property, in row 20, ie g, interest payable on borrowed capital -- you put the interest amount here, then see you will get it correct..