980 (Income tax) How to correct mistakes in belated return (Rectification) Narration - By Amlan Dutta Video Link - https://youtube/watch?v=XGfVK6Z9Uls Many tax payers submit belated returns under section 139(4) and then realize that they have made mistakes in submitted return Now , they can no longer revise the return under section 139(5) The only option left is rectification .This tutorial explains on how to go through the motions Taxpayer for submitted return will get a intimation under section 143(1) whether be it for original due or original belated return This intimation has a reference number which needs to be validated and then the content reflecting the return rectified Once validated , the platform offers the taxpayer options to select for rectification Once done , taxpayer can now again prepare the correct return ( rectify it ) and generate the xml for the corrected return He will then upload the rectified return xml on the website ! Hopefully all this makes sense , Humble regards , Amlan Dutta
Posted on: Mon, 22 Sep 2014 02:10:28 +0000
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