Itr for ay 2017-18

204 views 3 replies

Dear Experts.,

A Asseessee file his ITR 4 for AY 2017-18. The return filed by a neighbour of his home. ITR filed based on loan. But, As per my view and check the Bank statement of his value is less than the ITR Value.

Actual Values are in Bank Statement Rs. 19 Lakhs and Cash Receipts like Rs. 8 lakhs. Totally Rs. 27 Lakhs....

But, In ITR the Value shown Rs. 43.15 Lakhs. and Profit Shown Rs. 475,180Tax Paid Rs. 20384 (with Int)...  

 

Can I go to revise the ITR for actual Value...? If yes

Can I show the Profit less than above....? If yes

Can I get Refund the excess paid amount...?

Is any problem in future if I revise the Value in Original to Revised...?  

 

Please give your feedback and Advice. The Asseessee is very feel about this filing... 

Read more at: https://www.caclubindia.com/forum/itr-for-ay-2017-18-476283.asp

Replies (3)

1. No need; the figure seems to be perfect as per accounting principles. 

2. No need to revise and invite any trouble........ when tax paid is around 20K in the turnover of 30 to 40 L.

3. Check the turnover based on purchases & expenses debited and not just final figures !!!

4. Better let it be processed as it is.

Thank You Sir...

Your reply is same think to me... Why we invite any trouble...?laugh I reply the same to the assessee on Yesterday...

 

Thanks once Again Sir...

Originally posted by : Dhirajlal Rambhia
1. No need; the figure seems to be perfect as per accounting principles. 

2. No need to revise and invite any trouble........ when tax paid is around 20K in the turnover of 30 to 40 L.

3. Check the turnover based on purchases & expenses debited and not just final figures !!!

4. Better let it be processed as it is.

Excellent Reply My Dear Sir...

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - Head

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details