Can we file revised return for defective return?
Once you’ve been served with notice of defective return u/s 139(9), then you must correct your return by revising it within 15 days from the receipt of notice by the Income Tax Department. You can also apply for extension by writing an application to the Assessing Officer (A.O.)
How do you respond to case of defective return?
Response to Defective Notice u/s 139(9)
- Go to the ‘e-File’ menu and Click ‘Response to Notice u/s 139(9)’
- Details such as ITR, A.Y, e-Filing Acknowledgement No., CPC Reference Number, Notice Date, Status and Response are displayed.
- All the identified defects from the filed ITR is displayed to the taxpayers.
When can a revised return be filed?
This revised return can be filed before three months prior to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
What happens if you don’t respond to tax notice?
If you don’t respond to the tax notices within the time allotted, there can be various implications. “Non-compliance of a tax notice would attract penalty of ₹ 10,000 and may lead to judgement assessment by the tax officer,” said Agarwala. In some cases, “prosecution up to one year may also apply,” said Gupta.
What is modified return U S 92CD?
A modified return is to be filed for an assessment year relevant to a previous year to which an advance pricing agreement is entered in terms of Section 92CC. The modified return is to be filed within a period of three months from the end of the month in which the said agreement was entered into under Section 92CD.
Who can file revised return?
Who can file it? Every assessee who has filed his/her ITR is entitled to revise it under section 139(5) to provide correct information to the tax department. Even those who file belated ITR, i.e., ITR is filed after expiry of deadline (currently, December 31, 2021), is allowed to file revised return.
How do I file a revised tax return?
Use Form 1040X to amend a federal income tax return that you filed before. Make sure you check the box at the top of the form that shows which year you are amending. Since you can’t e-file an amended return, you’ll need to file your Form 1040X on paper and mail it to the IRS.
Is there any penalty for revised ITR?
ITR form can be changed while revising of return. No penalty can be levied by the department for bonafide mistakes (unintentional) If the assessing officer discovers that the error/ omission was intentional/fraudulent return revision of return is not allowed and penalty may be levied.
What happens if I don’t respond to the notice within 30 days?
If no response is received within 30 days from issue of notice, the adjustment is made,” he added. A notice can also be issued if you fail to file your return within the prescribed time. “Under section 143(2), a notice can be issued requiring the taxpayer to submit her return,” said Gupta.
How do I file a 92CD modified return?
How do I file a revised return?
Step 1: Once you login, go to My Tax Return under My Account. Step 2: Click on ‘View Details’ for the year you want to revise your income tax return. Step 3: You will see the acknowledgment number and date of filing of the original return. Scroll down and click on ‘Click here to mark this Income Tax Return as revised’.
Can we file revised return after e verification?
When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted, the same can be corrected by filing a revised return in the e-Filing portal. Click on the ‘e-File’ menu and click ‘Income Tax Return’ link.