Chartered Accountant
1784 Points
Joined May 2009
U can revise the return by rectifying mistakes with all corrections or modifications.
If an assessee has filed the original or first return before the due date, then he may
revise the original return. In case of revising the original return, the assessee has to choose the
option of revise turn in place of original return. On choosing the „Revised‟ return option,
assessee needs to provide the Original efiling acknowledgement number and date of filing the
original return. Further, the assessee is required to select the section of return filing as 139(5)
Please refer to circular No.3/2009 dated 21-5-2009 for applicability of penalty U/s 271B.
" Following clarifications are also issued in respect of certain issues arising from furnishing the returns in the above mentioned forms:
An assessee should obtain the report of audit from an accountant under section 44AB of the Act on or before the due date of the furnishing of the return and should fill out the relevant columns of the return forms on the basis of such report. However, the report of audit should not be attached with the return or furnished separately any time before or after the due date. The assessee should retain the report with himself. If called for by any income-tax authority during any proceeding under the Act, it shall be incumbent upon the assessee to furnish/produce the same in original. No penalty under section 271B shall be initiated or levied for not furnishing the tax audit report on or before the due date. However, if the audit report has not been obtained before the due date, provisions of section 271B shall continue to be attracted. ''''
As far as scrutiny assessment U/s 143(3), the chances for selection is less if it is one or rare cases.
However the same mistake is done in number of cases where the name of auditor mentioned or registered in ITR is same in all cases, then chances of selecting for scrutiny are more.
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