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Q. > Please Help: income tax return can be rectified
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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Deepa Jain
09-Dec-2013 , 09:38:57 pmReturn 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.
ANUJ GUPTA
13-Dec-2013 , 11:21:20 amDear 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).