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How to Re-Submit your IT Return u/s. 139 (5) of Income Tax Act.

Re-submit or Revised Indian Income Tax Return procedure is not known to maximum Taxpayee. It can be submitted after successful submission of Original Income Tax Return. No doubt that the Submission of Revised Income Tax Return is easy than submission of Original Income Tax Return. I had submitted revised Income Tax Return before two years ago and just submitted today. There was difference due to updation in system which I want share with you.

If a person has filed his return of Income u/s 139(1) of Income Tax Act 1961 i.e. within the due date of filing the return and if he subsequently finds that in the original return he has committed some mistake bonafidely then he can revise his return of income u/s 139(5) of Income Tax Act. The following provisions relating to revise returns.

Section 139(5) in Detail given as under:-
98[(5) If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier :

Provided that where the return relates to the previous year relevant to the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year, the reference to one year aforesaid shall be construed as a reference to two years from the end of the relevant assessment year.]

Select "Revised " in option of Whether Original or Revised Return ?" and then the following three items are required to submit Revised Income Tax Return :-
  • Receipt No of Original Return
  • Date of Submission of Original Return
  • Entry of Code 16-u/s 139(5) as shown in above screen.
The above three major items are required to submit Revised Income Tax Return and then you can rectify your data as rectification and generate XML file for successful uploading.

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Click Here to Resubmit your IT Return

Exemption from furnishin Income Tax Return for A.Y. 2011-12, whose Income not execeed Rs. 5.00 Lakhs.

Friends, Income Tax Department has to accept IT Return of individual with less than Rs. 5 lakhs of income – CBDT exempted those who have income less than Rs. 5 Lakhs for the assessment year 2011-12 from filing Income Tax return. Board now clarifies that the Department should accept returns from this exempted category of persons, if they wish to file the return. It has come to the notice of the Board that in some Income Tax offices, Returns of Income are not being received by the staff on the ground that an individual with less than 5 lakh of income is not required to furnish his return of income.

Section 139 of the Income-tax Act, 1961 – Return of income – Exemption from requirement of furnishing return of income for A.Y. 2011-12 where income does not exceed Rs. 5 lakhs – Assessee has option to avail said exemption.

Exemption from the requirement of furnishing a Return of Income u/s 139(1) – Regarding

ORDER [F.NO. 142/09/2011-SO(TPL)], DATED 25-7-2011
  1. The Central Board of Direct Taxes had exempted a certain class of persons from the requirement of furnishing a Return of income under sub-section (1) of section 139 of the Income-tax Act, 1961 for the assessment year 2011-12, vide Notification SO No. 1439 (E), dated 23-6-2011, subject to the conditions specified in the Notification.
  2. It has come to the notice of the Board that in some Income-tax offices. Returns of Income are not being received by the staff on the ground that an individual with less than Rs. 5 lakhs of income is not required to furnish his return of income.
  3. Necessary instructions may be issued to the officers and staff concerned to accept Returns of Income from those taxpayers who wish to file their Return of income even if they satisfy the conditions of the above-mentioned notification.
Notification Exempting Individual having Income less then 5 lakh from furnishing Income Tax Return.

Click Here to Read Official Notification

Download Now ITR Form for Submission Annual Income Tax
Click Here

MVAT – Extention of Due Date for Payment of PTEC for 2011-2012

COMISSIONER OF PROFESSIONS TAX, MAHARASHTRA STATE
Vikrikar Bhavan, Mazgaon, Mumbai 400 010, dated the 13th July 2011

NOTIFICATION

MAHARASHTRA STATE TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENTS ACT, 1975.

No. PFT/2011/Adm-29/NTF.— In Exercise of the powers conferred under clause (a) of sub-section (2) of section 8 of the Maharashtra Tax on Professions, Trades, Callings And Employments Act, 1975 (Mah. XVI of 1975) (hereinafter referred to as “the said Act”), the Commissioner of Profession Tax, Maharashtra State, Mumbai, hereby specifies the due date of tax payable for the year 2011-12 under the said Act, by enrolled persons mentioned in column (2) of the Schedule appended hereto, to be paid as specified against them in column (3) of the said Schedule as follows, namely;—

Download & submit your IT Return for A.Y. 2011-12 in Sahaj & Sugam ITR Forms.

Friends, Recently Income Tax Department send a IT Return Messages to every Taxpayee for encoring to submit IT Return before due date i.e. 31.07.2011 of Assessment Year 2011-12 and for that IT Department provided Word and PDF file to easy submission of IT Return before Due Dates.

New Income Tax Return Forms

A.Y. 2010-11

A.Y. 2011-12

SARAL - II (ITR-1)

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Instructions
Hindi
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Instructions

ITR-1 SAHAJ Indian Individual Income tax Return
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Print Specifications for SAHAJ & SUGAM http://incometaxindia.gov.in/images/wordicon.gif
English Instructions
Hindi Instructions

ITR 2
English
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ITR-2
For Individuals and HUFs not having Income from Business or Profession
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ITR 3
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ITR-3
For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship
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ITR 4
English
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SUGAM (ITR-4S)
Sugam - Presumptive Business Income tax Return
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Print Specifications for SAHAJ & SUGAM http://incometaxindia.gov.in/images/wordicon.gif
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Hindi Instructions

ITR 5
English
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ITR-4
For individuals and HUFs having income from a proprietory business or profession
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Hindi Instructions

ITR 6
English
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ITR-5
For firms, AOPs and BOIs
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Hindi Instructions

ITR 7
English
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ITR-6
For Companies other than companies claiming exemption under section 11
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English Instructions
Hindi Instructions

ITR-7
For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)
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Hindi Instructions

ITR V
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Instructions Hindi
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Instructions

Acknowledge
-ment
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ITR – V Acknowledgement http://incometaxindia.gov.in/images/pdficon.gif