Sage-Tips

Are you filing 139 1 Yes or no?

As per the 7th Proviso to Section 139 (1), it is mandatory to file the income tax return for a certain class of people who carries out certain high-value transactions mentioned in the section even though their total income is below the basic exemption limit (who are otherwise not required to file the income tax return) …

Is it compulsory to file return of income u/s 139 1 )? What are the different due dates for filing of return of income?

September 30th – All persons and entities who are required to or are liable to undergo an audit of their accounting books, need to file their income tax returns by 30th September of every assessment year. This date may also be extended as per the discretion of the Government.

How do I fix an error in ITR?

A mistake made at the time of filing ITR can be corrected by filing revised ITR. Section 139(5) of the I-T Act states that after filing their return if someone discovers any omission or wrong statement, he can furnish a revised return.

How do you rectify return under section 139 9?

1. Login to www.incometaxindiaefiling.gov.in using login credentials.
2. Go to e-File >> e-File in response to notice u/s 139(9)
3. Click on “Submit” link under Response column for the respective Defective Return Notice number for which response is required to be submitted.

What is the normal due date of furnishing the return u/s 139 1 for a company?

31st July
Due date of furnishing return of income in case of a non-working partner shall be 31st July of the assessment year whether the accounts of the firm are required to be audited or not.

What do you mean by original return?

What is an Original Return? A valid return filed within the due dates specified in the above table is called an original return.

How can I make corrections to my tax return online?

Submitting the request for Rectification

1. Go to the ‘e-File’ menu and Click ‘Rectification’ link.
2. Choose the options of ‘Order/Intimation to be rectified’ and ‘Assessment Year’ from the dropdown list. Click ‘Continue’
3. Select any one of the following options of ‘Request Type’ from drop down list. •

How do I fix invalid return?

When an ITR has been declared invalid, there is no need to file revised return. An assesse can file another return as a belated return u/s 139(4) within the time limits prescribed.

What happens if return treated as invalid 139 9?

Notice u/s 139(9) is issued when return is found defective and a period of 15 days is provided to the assessee to resolve the same, however if assessee fails to do so, the return is considered as defective and treated as return has never been filed.

Is it compulsory to file return of income?

Filing income tax returns is mandatory for those whose total income is more than Rs. 2,50,000. We recommend that you file your income tax return, even though it is not mandatory if total income isn’t over Rs. 2,50,000.