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Wrong itr filed after due date

ITR 260 views 3 replies

i had filed itr for fy 15-16 and mistakenly not mentioned perquisites i.e lease rent facility for bank employees.so please tell me what should i do.should i have to worry to much?

solutions please

thanks in advance

Replies (3)

Hon’ble Supreme Court of India in a case titled as Kumar Jagdish Chandra Sinha vs. Commissioner of Income Tax (1996) 220 ITR 67, 75, 74 (SC)whereby setting at rest the controversy on the issue, the Supreme Court had ruled no revised return can be filed under section 139(5) in a case where the return is filed under section 139(4). In other words, a person who filed a return under section 139(4) is not entitled to file a revised return under section 139(5) of the Income Tax Act, 1961.

SoFile a rectification u/s 154 after you receive intimation u/s 143
 

 

In case i don't receive any notice in future

so should i need to worry?

You can rectify the mistake, as when any letter or intimation or notice, received from department.

You need not worry, as a chance for rectification will be given to you even before scrutiny (if at all chosen by chance). No penalty enthrusted before that.


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