Time gap between itr filing for home loans!!!

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Student
135 Points Posted on 29 January 2017

Husband and wife filed ITR's for AY 15-16 in March, 2016

Those returns were riddled with mistakes, hence revising them both NOW..

Also filing returns for AY 16-17 at the same time.. NOW

The time gap of 6 MONTHS required for HOME LOANS FROM BANKS between filing of two ITR's is considered from ORIGIONAL ITR to ORIGINAL ITR or from REVISED ITR to Current year ORIGIONAL ITR????

Please do let me know... Thanks in advance.. 

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On 29 January 2017 at 13:43 Report
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CA
273 Points Posted on 29 January 2017
If you are filing revised return than original return become invalid. Than revised return consider your actual return.

Than time is gap is consider between revised return of AY year 2015-16 and original return of 2016-17.
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On 29 January 2017 at 13:57
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Student
135 Points Posted on 29 January 2017

Time gap of 6 months is MANDATORY??

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On 29 January 2017 at 15:20
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CA
273 Points Posted on 29 January 2017
No , I never saw such banks guideline for time gap when i check Loan documentation.
2 Reply
On 29 January 2017 at 15:26
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Freelance consultant in Direct Tax and F
252 Points Posted on 29 January 2017
how did you file return for AY 15-16 in mar 16 itself?
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On 29 January 2017 at 17:08
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Student
135 Points Posted on 29 January 2017

Section 139 (4) allows to file before the expiry of one year from the end of relevant assessment year.

AY. 2015-16 Return can be filed up to 31st March 2017 belatedly.

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On 29 January 2017 at 17:25
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CA
273 Points Posted on 29 January 2017
You cannot revised your original return if it filed after due date
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On 29 January 2017 at 17:58
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CA
273 Points Posted on 29 January 2017
Sorry, I haven't consider this.

According to section, They said you can file your return before expiry of one year after relevant assessment year that is your original return.

As you already said that you have filed your AS 2015-16 return in Mar 2016 which is belated return. Now i don't think you can revise those return.
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On 29 January 2017 at 18:11
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Student
135 Points Posted on 29 January 2017

But I can still apply for rectification under section 154

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On 29 January 2017 at 18:13
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CA
273 Points Posted on 29 January 2017
Yes, you can apply for rectification.
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On 29 January 2017 at 18:15
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Student
135 Points Posted on 29 January 2017
Originally posted by : Prashant Sharma
Yes, you can apply for rectification.

Thanks a lot Sir! Can the assessee change the nature of business in rectification? Wrong business code was entered in the ITR

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On 29 January 2017 at 18:20
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CA
273 Points Posted on 29 January 2017
Yes, as rectification is for mistakes which we made in original return. From my point of view you can rectify.
1 Reply
On 29 January 2017 at 18:26
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student
4374 Points Posted on 29 January 2017

Time between Last 2 Returns should be SIX MONTHS

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On 29 January 2017 at 21:39
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chartered accountant
142 Points Posted on 30 January 2017

It depends on the Bank Manager. He Can sanction loan though the two Itr are filed on same date.

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On 30 January 2017 at 09:40

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