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Revision of return
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Yes the return can be revised u/s 139(5) upto the date 31/03/2015 as the processing of return u/s 143(1) would not amount to completion of assessment.
Dear Suksham,
Income Tax Return of AY 2013-14 which is filed on 31.07.2013 can be revised under section 139(5) of the Act till one year from the end of assessment year of which the return is filed. i.e. upto 31st March 2015 for discovery of ommission or wrong statement in the return so filed.
However as you mentioned that your return has been processed by the Income tax department, therefore you can not revise the return, as processing of return is considered as 'completion of assessment'.
DEAR SIR IF I FILL IT RETURN ON 1/8/2014 FOR AY 2013-14 THEN CAN I REVISE THAT FILLED RETURN
Dear raj
U can't able to file revised return under sec139(5) for individual,huf who are not covered under sec 44AB.
Sir why it mean an individual cant file revise return?
Dear atul,
Don't misunderstand
I have just replied against the query raised by Mr.raj.
Individual also can revised return provided If they file the return with the due date specified u/s 139(1)
Yes, You can Revise the return before the completion of Assessment or within 1 year from the end of the AY which ever is earlier.
DEAR MEMBERS,
PLEASE CLARIFY IF PROCESSING OF RETURN AMOUNTS TO ASSEMENT WHICH IS REFFERED IN SEC. 139(5)
Processing of return under section 143(1) does not amounts to completion of assessment. It is mere intimation of processing of return. An assessee can revise its return after the intimation under section 143(1).The Word used under section 143(1) is 'process;' not 'assessment'.
You know belated return can not revised. if you have return file on time can revised any time.
DEAR CA MEETALI
ARE U SURE OF THAT............
yes, I am. You can revise your return u/s 139(5).
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