Dear Experts, <\/p>\n
In one of the cases, after filing the return for AY 2018-19, the assessee came to know that he has filed the return showing reduced income in business as compared to actual income (The turnover was also shown lesser than actual). The return was filed using ITR 4 Sugam declaring income U\/s 44AD. The return was duly processed by CPC. <\/p>\n
Now the assessee wants to declare his true income by filing a revise return but he is not able to do so as the time limit for filing revise return already expired.<\/p>\n
So should he file a rectification online by increasing the Turnover and net profit ( Deemed Profit U\/s 44AD) to Actual ?<\/p>\n
As per my understanding if there is change in income rectification should not filed but revise return.<\/p>\n
Please guide.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dear Experts, In one of the cases, after filing the return for AY 2018-19, the assessee came to know that he has filed the return showing reduced income in business as compared to actual income (The turnover was also shown lesser than actual). The return was filed using ITR 4 Sugam declaring income U\/s 44AD. The return was duly processed by CPC. Now the assessee wants to declare his true income by filing a revise return but he is not able to do so as the time limit for filing revise return already expired. So should he file a rectification online by increasing the Turnover and net profit ( Deemed Profit U\/s 44AD) to Actual ? As per my understanding if there is change in income rectification should not filed but revise return. Please guide.<\/p>\n