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Query regarding revised income tax return

ITR 231 views 1 replies

Assessee is having salary income plus business income and he already filed original income tax return for the assessment year 2019-20 but erred in showing income under business head.

Now he will have to file revised return for correct income.

Can he show income under head business u/s. 44AD in revised return ?

Whether there is any chance of receiving notice from i t dept. for showing additional income in revised return of income ?

Please do the needful in matter and oblige.

Replies (1)
 
 

Assessee is having salary income plus business income and he already filed original income tax return for the assessment year 2019-20 but erred in showing income under business head.

Now he will have to file revised return for correct income.

Can he show income under head business u/s. 44AD in revised return ?

YES


Whether there is any chance of receiving notice from i t dept. for showing additional income in revised return of income ?

Not because of the revision of income on higher side.

One can revise it with additional income. Even declare income under presumptive assessment.

 

 


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