Revise income tax return

ITR 344 views 3 replies

Dear Sir,

One of my client file income tax return on 14/06/2013 through online for financial year 2012-13 for rs. 4,51,000/- wrongly through some consultant whithout paying requisite tax. But his actual return will be file for approx rs. 2,50,000/-, Can I revise his return for rs. 2,50,000/-, u/s 139 or rectification which will be applicable. Is there any problem earlier he file return for Rs. 4,51,000/- now he is revise to Rs. for Rs. 2,50,000/-. What are the consequences? please guide me, thanks

Replies (3)

Since you have filed the returns before due date, you may revise your return.

Why has there been a reduction? Is it amount of income or tax payable?

thanks for reply Mihir Sir, reduction in income, previously shown Rs. 4,51,000/- wrongly now he is like to revise the return for rs. 2,50,000/- which is actual, is there any consequences earlier shown higher amount now he is revise for less amount. 

LOOKING FOR MORE EXPERT ADVISE, IT;S VERY URGENT


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