Urgent Help 1915

ITR Filing 289 views 2 replies

There are two parties A and B.

B was doing his own accounting as well as A's accounting.

By fraud, B has stolen money from A's bank, and in A's return, he has shown that B has taken a loan from A and was Accruing interest to A's retu as well as depositing TDS. He has filed a return of A for FY 2020-21 and 2021-22.

1. Now when A came to know about this, he want to correct his accounting and IT return in FY 2022-23.?

2. Also, tell us whether the previous return can be corrected or not by filing an updated return. ?

3. Can this be complained to Income tax as B has done fraud and not paying the money back ?

 

Replies (2)
1 yee he can correct the return
2 yes he can file an updated return as this will increase his tax liability (int exp claimed earlier in the return )
3 file an FIR in any nearby police station and you can raise this case to the income tax officer also
For more information please contact me on somesh @ sschandak.com

  1. Yes A can correct his books in the f.y. 2223 by reverse the entry through journal vouchers . 

  2. Yes A can correct his return by update his return 139(8A)

  3  A can complained but he should complained to the police station & lodge FIR Against B 


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