Can belated return be revised
This query is : Resolved
09 December 2016
I have filled a Belated Return of Individual which has Income less than the taxable Limit Now Can revised that return
Riddhi Kadhiwala
(Expert)
09 December 2016
Belated return can not be revised
CA Suresh Jain
(Expert)
09 December 2016
It is being changed w.e.f. 1.4.17
Following sub-section (5) shall be substituted for the existing sub-section (5) of section 139 by the Finance Act, 2016, w.e.f. 1-4-2017 :
(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
Following sub-section (5) shall be substituted for the existing sub-section (5) of section 139 by the Finance Act, 2016, w.e.f. 1-4-2017 :
(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
10 December 2016
No. Revised return can't be filed for FY 2015-16 if original return is belated.
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