Revised return

This query is : Resolved

lavanya (Querist)
Follow

01 January 2016 one of client has filled income tax return and in online status is showing as ITR processed...he wish to file revised return...can he file revised return at this moment? he did not received any intimation from Dept also

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

01 January 2016 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.

Also note that only return filed u/s 139(1) within due date can be revised. Belated return filed u/s 139(5) can not be revised.

lavanya

lavanya (Querist)
Follow

02 January 2016 yes I agree...the status in IT site is showing that ITR processed so once it is processed we can not file revised return..so revised return is possible only when we receive Notice from it dept

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

02 January 2016 Even if the return status is showing processed it is not completion of assessment. Even intimation u/s 143(1) is not completion of assessment. So if the one year from the end of relevant AY has not expired you can submit revised return provided the original return was submitted within the due date u/s 139(1).

lavanya

lavanya (Querist)
Follow

02 January 2016 fine...thank you so much

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok