wrong be lated return

Share
Share This Thread
  1. Ashutosh Gupta

    Ashutosh Gupta New Member

    Sir
    i filed my income tax "be lated" return with wrong figures in salary. I had shown salary 51,15,000 in place of 15,15,000. should i verify my return and wait for notice? what i should do? how it will be rectified?
     
  2. ZED

    ZED Well-Known Member

    Was the return showing tax payable?
     
  3. Ashutosh Gupta

    Ashutosh Gupta New Member

  4. Ashutosh Gupta

    Ashutosh Gupta New Member

  5. ZED

    ZED Well-Known Member

    In your case you need to revise the particulars of income. You might be knowing that belated return can not be revised. Rectification can be done only when the income particulars are not to be changed, even if you file rectification application same shall be rejected.

    That's the main risk of filing a belated return.

    S.139(5) If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier :
    [A belated return filed u/s 139(4) can not be revised.]


    Extracts from rectification manual
    In case of change in 'Income', a rectification should NOT be filed. A revised Income Tax Return should be filed in this case, of course, subject to the time limit as per the Income Tax Act, 1961

    As you can see that there is no provision under the Income Tax Act , I will have to use the provisions from the constitution of India.

    There are ways to handle this situation but some of them can be complex. I hope simple one can be done, the other approaches can take months.
    I need to see your return for some info. Send the same to my mail.
     
    Last edited: Jul 20, 2016
  6. Ashutosh Gupta

    Ashutosh Gupta New Member

    thanks sir i will provide you still it is not verified
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Exempted arrear perquisite related to earlier years wrongly included in total slary income . Income Tax Mar 21, 2015
Wrong entry in Form 26AS Income Tax Mar 26, 2018
Non resident paid TDS on property by wrong procedure ? Income Tax Nov 19, 2017
ITR-1 WRONGLY FILLED INSTEAD ITR-4 Income Tax Aug 1, 2017
itr form wrong Income Tax Jul 10, 2017