REVISED DVAT-16

[HARISH KUMAR]

WHAT IS THE TIME LIMIT TO REVISE THE RETRUN DVAT-16 OF QUARTER ENDING 30-06-2009.

[Sucheta Agrawal]

Ans. as per section 28 of the Act time limit to revise the return is given in hereunder-

1. with in 4 year of the making of an assessment, the person discover the mistake and in case where made a less payment of tax and find it then  within one month after the discovery, furnish a revised return and pay the tax owed and interest thereon.

2. if make the excess payment of tax,  the person may lodge an objection against the assessment in the manner and subject to the conditions stipulated in section 74 of this Act. the same period of 4 years is applicable.

AI Summary

Clarification on Revising DVAT-16 Returns: Mistakes Allow Revision Within 4 Years Under Section 28, With Specific Conditions. A query was raised about the time limit for revising the DVAT-16 return for the quarter ending June 30, 2009. The response clarified that, according to Section 28 of the Act, a person can revise the return within four years of the assessment if a mistake is discovered. If less tax was paid, a revised return must be filed within one month of discovery, along with the owed tax and interest. If excess tax was paid, an objection can be lodged against the assessment under Section 74, also within the four-year period.