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Mistake in itr filing plz advise

ayesha (mcom) (1185 Points)

18 July 2013

I commited a mistake in filing exempt income page in itr 2.in the interest column i took dividend amount..In dividend column i took lt cap gain amount.What to do.Do i need to file revised return to correct exempt income

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8 Replies

Dipjyoti Majumdar (CA in service & CS. dipmaj@ ) (3469 Points)
Replied 18 July 2013

Yes, you should file a revised return.

Thanks

Ankit (CA, CS) (3064 Points)
Replied 18 July 2013

Yes Ayesha..you can file a revised return to correct the error..

though since it is an exempt income it may not make a big difference, but better to correct it naa

Akshata (CA Final ) (324 Points)
Replied 18 July 2013

File revised return since u have exempted capital gain and taxed dividend amount..

vikas (student ) (139 Points)
Replied 18 July 2013

yes ayesha u can file the revised return with correct statement including exempt income of all the head of income within one year from the end of relevant assessement year

ayesha (mcom) (1185 Points)
Replied 18 July 2013

But it is exempt income. All taxable amounts have been entered correctly IN THE ITR. Is it really necessary to file revised income for such a small error.It wont have any impact on taxes

Akshata (CA Final ) (324 Points)
Replied 19 July 2013

Hi ayesha,

U have an option to file revised return..nowhere is it mentioned that its mandatory..though all amounts are exempt,the amount are incorrect..and the actual amounts u have recd is already there with IT dept..thus we were suggesting revised return..

CA Sneha Jalan (CA FINAL) (73 Points)
Replied 19 July 2013

Yes Its required to file a revised return because if any tym ITO catch this income then it vll be treated as a concealed income which vll be taxable.......So it vll make no any difference...just file d revise return u/s 139...nd free from the liability which can be in future......

Thanks

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