Hi, I am sorry to repost this query but I am really stuck and want to know what action can the assesse take as he has realised his mistake before any notice being furnished and wants to correct things.

A client of mine filed return for AY 2013-14 in march 2014 i.e. he filed a belated return. It was a salary return in form ITR1. He skipped enter capital gain details of residential house property he sold in 2012-13 by mistake. He informed me about this in July 2014 when he came for ITR filing of AY 2014-15. This return for Ay 2013-14 was filed belated so cannot be revised. Could it be rectified? IF yes, then could the form be changed? as capital gains info cannot be filled in itr1. There was no capital gain arising on the transaction as section 54 was applicable. Is there no option? Do he has to sit quietly and wait for any notice?


Posted 2 years, 3 months ago by Kamaldeep Singh

If we apply theory and case laws, its not possible to revised the belated returns. However you can revise the belated returns and income tax site allows it.

I have done it for few clients last year and even the returns were processed. You can revise the return.

Tax is not payable, so nothing to worry.

Posted 2 years, 3 months ago by CA Pulkit Sharma

All right bro thanks...I didnt try as I thought it is not possible.

Posted 2 years, 3 months ago by Kamaldeep Singh

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