Special Festive Offer: 10% OFF Across All CCI Pro Membership Plans. Subscribe Now!

rectify a mistake in the return of AY 07-08

760 views

Save Share

Hetal Shah

CA Practice

47 Points Posted on 23 February 2010

A person has filed a return of his salary return. He has received a refund in 2010 - Feb. The refund is less received by Rs. 10000/-. At the time of receipt of refund, a person came to know that there were lots of miskes in computation of income. Now a return cannot be revised - timebarred.

So any chance left for the person to rectify the mistake. Can he make an application u/s 154 (suo motto on the basis of the intimation received u/s 143(1)]

Replies (2)

Ramya Kinthali

Financial Consultant

134 Points Posted on 23 February 2010

an application can be made by the assesee for rectification of any mistake apparent on reord , mistake on income computation is apparent on record...... but it must be made in such a way that rectifation of the should be made within 4 yrs from end of FY in whcih order to be ammended is passed....

assessee can make application , but it is AO duty not to ammend order after 4yrs from end of FY in which such order is passed...

Amir

Learner

4898 Points Posted on 23 February 2010

Dear Hetal,

Look brother No harm in trying at max AO will reject ur claim.......But at least u make an application u/s 154 for rectification of mistakes apparent from record...........