Where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of 15 days from the date of intimation. If the assessee fails to rectify the defect within the said period of 15 days or such further period, then the Assessing Officer will treat the return as invalid return. However, where the assessee rectifies the defect after the expiry of the said period of 15 days or the further period allowed, but before the assessment is made, the Assessing Officer may condone the delay and treat the return as a valid return.
The conditions, the non-fulfillment of which renders the return defective are provided in the Explanation to the aforesaid sub-section therefore it is proposed to provide that the return of income shall be regarded as defective unless the tax together with interest, if any, payable in accordance with the provisions of section 140A has been paid on or before the date of furnishing of the return w.e.f. 01 .06.2013.
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