Revise return

Calculate tax. Pay it.File revised return and show the income from sale of plot. I am adding that you have to calculate capital gain for it. 

If you have made a mistake of not disclosing any income or have forgotten to claim a deduction in your return, you can file a revised return and avoid penalty exposure..!

In case if the revised return is filed online, the assessee is required to furnish the 15-digit acknowledgement number of the original return. On receiving the revised return, the I-T department searches for the original return which is retrieved using the 15-digit acknowledgement number.

it's not my practicle case....but i got this question from freind....while we were studying....

Neeraj please note, Only Those who filled IT return widin the due date specified in the section 139(1) are eligible to file the revised return.

Revised returns can be filed if you filed your original return within due date. So if you filed your return after due date then you are not eligible to file revised return.