Wrong Itr filed for fy 16-17!

One of my friend has wrongly filed itr 1 and got it e verified as well…:fearful:
He is salaried, had done some equity intra and delivery based trns as well as fno
He has not incurred any net profit
What can be done now as today is last day…

He can revise the returns … and rectify the error

Which itr to file… Sal below 5 lac

He can file ITR 3 or ITR 4

Ok thnx a lot :grinning:

Just one more thing… What if he is not able to do today itself… IT site being very slow today due to last date… Is he allowed to do couple of days later…?

He can revise within one year from the date of original filing … He has sufficient time for that

1 Like

Can u pls describe d procedure and relevant links for d same… Sorry for d trouble…

Its covered under Section 139(5). While filing the ITR he need to choose revised return, Rest all he need to fill the return as per his applicability

so technically we can file return with some details before last date and later file revised return. means we can get one year time file returns ?

:grinning: You need to have reason justifying the same else … there can be penalties too.

He just assumed that stt means tax paid and not his responsibility… Also he dint make any profit so he thought itr 1 is appropriate… He is honest but ignorant person in tax matter
What cud b d reason to show this case…

If there is no net profit, and it is e-verified, then also he should show this? I mean this will not be case of scrutiny right?

No I mean which reason to select in income tax site for rectifying this error…?

Deadline for filing the return has been extended to Aug 05, 2017. :slight_smile:

IT Department is matching the data as per various agencies and ITR filed. A single transactions can also make automated notice.

Still not getting the reason to b mentioned for rectifying the itr as suggested by u all…

If he was ignorant earlier , he can state the same and after understanding know he has revised