Revised income tax return

This query is : Resolved

sreedhar (Querist)
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03 December 2015 i am filled income tax return for the Ass., 2015-16.on 03.08.2015, can i make a revised return on 03.12.2015 (ITR already processed). plz immediate reply

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 December 2015 Yes you can submit revised return on 03.12.2015. No issues with that. You can file revised return even after receiving Intimation u/s 143(1).

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 December 2015 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 2015-16 can be revised till 31st March 2017 or before the completion of the assessment whichever is earlier.

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