Re: REVISION OF FORM 3
HI, CAN WE REVISE FORM 3 AS PER NEW RULES. WE HAVE FILED THE FORM CORRECTLY WHICH WAS OKAYED AND PROCESS REACHED FORM-3. NOW IT0 IS RAISING A NEW DEMAND WEF 31.03.2020 . THIS DEMAND WAS NIETHER COMMUNICATED TO US AND IS ALSO NOT AVAILABLE ONLINE. ITO IS CREATING PRESSURE TO REVISE IT. WHETHER WE ARE BOUND TOREVISE IT. WHAT IF WE DONT DO THE SAME. CAN HE HARASS US BY OTHER WAYS.
You are at the liberty to file a fresh declaration under VSVA. There is no express bar from refiling.
Form 3 is issued by the CIT you cannot revise it. VSVS can be availed only if appeal is pending or time to file appeal is available to file an appeal as on 31.01.2020. Revision by the ITO must have been done u/s 154. If that order is not appealed then you might have to pay the defferetial tax along with interest