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Rectification for change in total income

Sachin kumar (CA Final) (63 Points)

12 February 2012

Guys, One of our client who is employed in bank has filed his return in ITR-1 for A.Y 11-12 as per Form 16 issued by bank to him on this basis his return is now processed and intimation u/s 143(1) is recieved for refund which is not recieved to him due to error in bank a/c no. Now the Bank has revised Form 16 in which the Total Income figure and Tds figure is changed. on this basis now his Demand/Refund comes to be Nil

My query is can we file a rectification request U/s 154 in the case of Total Income changed or we should file a revised return or both. pls advice.

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3 Replies

(Guest)

In this case the revised return has to be filed because rectification is done of mistake apparent on record not on the amendement or changes in data.

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Sachin kumar (CA Final) (63 Points)
Replied 15 February 2012

but whether revised return will be accepted because the assessment is completed and intimation u/s 143(1) is recieved. pls reply.

(Guest)

revised return can still be filed because intimation u/s 143(1) is not an assessment under IT act 1961. Intimation u/s 143(1) is summary assessment in which income tax dept. does not verify the details submitted by the assessee. It merely accepts the facts accepted by assessee except any mistake apparent on record nad issues the intimation to assessee.