Hi Members,
Please suggest on the following query.
A senior citizen has filed his ITR for AY 2018-19 in July 2018 with net income of Rs. 4,70,000.00. Now he wants to revise his ITR with net income of Rs. 6,70,000.00. Will late fee be levied along with interest on his revised ITR?
Thanks.
No late fee if you filled ITR before due date and revised it later
If ITR filled after due date, you can't revise that return
Belated returns for the FY 2016-17 onwards cab be revised.
@ Raja Sir, it is verified. The bank is asking for higher income in ITR for loan.
what if tax liability arises due to revision of the Return ?
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