Please Help: income tax return can be rectified
Posted Date : 09-Dec-2013 , 06:07:01 pm | Posted By: Vikash Singh Gusain
Category :
Income Tax | Answers :
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Comments :
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if the notice u/s 142(1) is issued by the tax authority for the A.Y. 2011-12 then return can be rectified or not ( return is already belated) if yes what is the provision of income tax if you can give the ex of case study it's more good for me
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| Posted By : ANUJ GUPTA |
13-Dec-2013, 11:21:20 |
| Dear Sir, if you file the return with in the time prescribed in notice u/s 142(1) then you can revised the return as per the provision of sec.139(5).
As per sec.139(5) a return file within the time specified u/s 139(1) or 142(1) can b revised u/s 139(5).
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| Posted By : Deepa Jain |
09-Dec-2013, 09:38:57 |
| Return filed u/s 142(1) can be revised if it is not a belated Return u/s 139(4) but it is not possible for tax authority to issue notice u/s 142(1) before due date of file of Return as given u/s 139(1).
Hence, Return filed u/s 142(1) is a belated return.
Only Return filed u/s 139(1) can be revised u/s 139(5) with in time prescribed u/s 139(5). Hence Return filed u/s 139(4) belated return can not be rectified or revised. |
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