Faulty Return below Part 139(9)

As per Part 139(9), an Revenue Tax Return is handled as a Faulty Return if any of the next 8 paperwork is just not connected with the Revenue Tax Return.

If the Revenue Tax Officer considers that the Return as a faulty return, then he shall intimate the defect to the taxpayer and provides him the chance to rectify the defect inside 15 days from the date of such intimation. He can even lengthen the time interval on an software made by the assessee.

The defect is intimated to the assessee by the Assessing Officer by a easy letter.

Faulty Return if any of following Doc is lacking

1. A return within the prescribed kind with all annexure, columns and statements duly stuffed in.

2. A press release exhibiting the computation of the tax payable.

3. Proofs of tax, if any, claimed to have been deducted or collected at supply and the advance tax and self evaluation tax, if any, claimed to have been paid.

Supplied that the place return is just not accompanied by proof of tax, if any, claimed to have been deducted or collected at supply, the revenue tax return shall not be thought to be a faulty return if:-

  • A Certificates for tax deduction or assortment was not furnished to the individual furnishing his revenue tax return
  • Such certificates is supplied inside a interval of two years from the top of the related evaluation yr.

4. Report of Audit below Part 44AB or the place the report has been furnished previous to the furnishing of the return, a duplicate of such report along with proof of furnishing of the report.

5. In case common books of accounts are maintained by the assessee, then copies of:

  • Manufacturing Account, Buying and selling Account, Revenue & Loss Account or the Revenue and Expense Account and the Steadiness Sheet.
  • In case of partnership agency, the non-public accounts of the companions.
  • In case of AOP/BOI, the non-public accounts of the members.
  • In case of a proprietary concern, the individual account of the proprietor.
  • In case of a accomplice of a agency, his private account within the agency.
  • In case of a member of AOP/BOI, his private account in AOP/BOI

6. The place the accounts of the assessee have been audited then copies of the audited revenue & loss account, stability sheet and the auditor’s report.

7. In case the place value audit below Firms Act has been carried out, then the copy of such audit report.

8. The place the common books of accounts will not be maintained by the assessee, then a press release exhibiting the quantity of turnover, gross receipts, bills and the online revenue of the enterprise or occupation carried on by the assessee and the premise on which such quantities have been compted and in addition disclosing the quantity of whole Sundry Debtors, Sundry Collectors, Inventory-in-hand, money and financial institution balances on the finish of the yr.

Related Factors relating to Faulty Return

If the taxpayer doesn’t rectify the faulty return throughout the interval of 15 days or the prolonged time interval, then the return shall be handled as void-ab-initio and it shall be deemed that the assessee has not filed the revenue tax return.

Nevertheless, in case the assessee rectifies the defect after the interval of 15 days or the prolonged interval however earlier than the completion of evaluation, then the revenue tax officer might condone the delay and deal with the revenue tax return as a sound return.

The revenue tax officer can deal with the return as legitimate return even when it’s a faulty return. However, if the assessing officer considers that return as faulty, then he’s sure to intimate the defect to the assessee.

Date of Intimation means the date on which the letter specifying the defect is acquired by the assessee.

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