Filling of revised return

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CA RICHA SHAH

CA RICHA SHAH (Querist)
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28 January 2012 is there any time limit for filling revised return of assessee?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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29 January 2012 If an assessee has filed his return of Income u/s 139(1) of Income Tax Act 1961 i.e. within the due date of filing the return and if he subsequently finds that in the original return he has committed some mistake bonafidely then he can revise his return of income u/s 139(5) of Income Tax Act.

Time period of filing the revised return: As per section 139(5), the revised return can be filed before the expiry of one year from the end of the relevant assessment year or before the completion of assessment, whichever is earlier.

For example : Therefore a return of A.Y 2009-10 can be revised till 31st March 2011 or before the completion of the assessment whichever is earlier.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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30 January 2012 A return can be revised before expiry of one year from the end of relevant Assessment Year or before completion of the assessment, whichever is earlier.

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