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Revised return
Itr filed and there was tds but client did not claimed it. Now I can revise right?? It is refund case. Tds deducted around 25k on Interest income. Earlier client had not claimed tds, but Itr is processed. What should I do now?
Replies (22)
Revise your return and claim TDS. Not claiming TDS will be considered as returns filed incorrectly.
Yes sir, but itr filed earlier is processed. Now I revised the return. Will it be a problem?
No revised return will be considered as return filed u/s 139(1). It will substitute the original return.
Sir but original return is processed. Today I have revised the return, won't be problem for refund right?
a return can be revised before the expiry of one year from the end of the Assessment Year or before the completion of the assessment by the Department; whichever is earlier
Okay sir. But if the dept had processed original return, will they again process revised return?
Yes they will do it.
Okay sir, thank you so much sir. I had confused regarding this. You had cleared it.
Piyush it is suggested to read the statute once again
Sir, I have re-read the statue and as per my knowledge processed return is not an assessed return. If you have other view, please share the link so I can check and clarify.
Piyush u have misunderstood the provisions
I don't think so. You can check similar replies to mine in other threads relating to revision of return. I have done it practically and hence I don't think that is the case.
Piyush u have done a big blunder by doing it and also by making others do it too.
its ur sole conviction, pls read the statute carefully and also go through the cbdt website for reference
its ur sole conviction, pls read the statute carefully and also go through the cbdt website for reference
Yes sir some experts are telling there is no problem in revising the return. But some are saying u should not revise the return once the return is processed.
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