ITR FOR AY2017 18

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possible to revise from 1st Apr 18
Replies (40)

Yes. till March 2019.

Sir revision is possible till march 19??only belated return due date is over??
Yes...
We can revise the ITR for the AY 17-18 if it's belated return Upto 31st March 2019...

But, we can't file original ITR from 1st April except acceptance by ITO.

But as per amendments came in FA 2017 that return under section 139(4) and 139(5).... Assessee may furnish a revised ROI at any time before the end of relevant assessment year or before completion of assessment... Whichever is earlier .... Thats why me asking that question.. 

ONLY REVISE IS POSSIBLE. NEW ITR FOR AY 2017_18 is not uploaded

Where it is mentioned that revision is possible bcz in section time limit is upto end of relevant assessment year and assessment year 2017-18  is over... Thats why i am asking... Whether any notification came in this respect??

Extract from Finance bill 2017........Page 21 of memo-2017

"In order to expedite assessments of the Department as proposed above, it is critical that the returns for an assessment year also freeze by the end of the assessment year. It is hence proposed to amend the provisions of sub-section (5) of section 139 to provide that the time for furnishing of revised return shall be available upto the end of the relevant assessment year or before the completion of assessment, whichever is earlier.

These amendments will take effect from 1st April, 2018 and will, accordingly apply in relation to assessment year 2018-19 and subsequent years."

 

Extract from section 139....... acts/income-tax-act.

[(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before 49[the expiry of one year from] the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.]

49. Italicised words shall be omit. by Act No. 7 of 2017 (w.e.f. 1-4-2018).

Hmm sorry sir.... As amendments came in section 139(4) in FA 2016.....but in section 139(5) in FA 2017...so it is applicable from AY 2018-19....thanx sir for ur clarification

48[(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before 49[the expiry of one year from] the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.]

Page 4  from Section 139 attachement

No question of any sorry, Dear.....

This is the platform to learn...... discuss....... and rectify our mis-interpretation !!!

Rather, I love and appreciate your knowledge, effort, sincerity and passion...... as seen from your work on the platform..

Keep it up.......... & Good Luck.......

Thanku so much sir for ur appreciation.... Ur word means a lot to me... This is ur kindness and greatness 😀😀

God Bless You.........

Good luck for Your Finals.......

Love your integrity & probity......

Thankew so much sir... One more question why in section 44AD interest and salary deduction to partnership firm is withdrawn from FA 2017... now firm has to pay flat rate of 30% on their 8% presumptive income... In most of the cases their actual GP is 8 to 10%...now they have no option to opt 44AD and go for tax audit.... This is not harassing for small partnership firm rather than promoting by government??

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