Its better to file revise return.
For the current Assessment year FY 17-18, I had e-filed my income tax return via Clear tax on the 01st July 2017. On the 26th July 2017, I got a notice under 143(1)(a) stating that there are some discrepancies between my returns vs Form-16. I verified the details and in the Income tax e-filng portal, have submitted proofs of certain investments / Medical Insurance that were not present in the Form 16. In addition to this, there was some income from FD interest [ an amount close to 12 thousand] that I had missed out in the return. For this, I chose the 'Accept Adjustments' button and submitted my response. The response to 143(1)(a) was done on August 2nd week and ever since, the status of the return says "Response to proposal of adjustments to 143(1)(a) is submitted" in the portal. I have also to get a refund of close to 20K on which I have no status. My question is after submitting the response to 143(1)(a), should I have filed a revised return within the next 15 days? In case it needs to be done and I have not done it, what would happen next with respect to my refund/return processing?
Can you please give me some additional details? Is it 'mandatory' to file a revised return after submitting a response under 143(1)(a) to get my return / refund processed? Or is it something you want me to do just to be on the safe side? I ask this because I think I saw a message saying that I need to refile the return within 15 days of submitting the response to 143(1)(a) 'if needed', so not sure for what cases we need to refile the return and where it is not needed.
Yes, if you have accepted the adjustment, you need to file revised return.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
Hi
It is advisable to file a revised return even if you have accepted the changes and filed responses to th enotice under section 143(1).
Sir for any corrections or addition in income or deductions you need to file a Revise Return. 143(1) is the Intimation copy. If you find any fault with calculation like tax paid but not considered and all you can submit. But as per your query you are making additions and deductions which is allowed only in Revised Returns.
Hi,
If you have responded saying you will file Revised returns, then only revision is mandatory. Otherwise, revision of Returns is not required