Revised return ay 2017-18

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Prakash Choudhary (Querist)

25 April 2018 Dear Sir

i have filed original return before due date of individual assessee, now can i filed revised return for the ay 2017-18 if yes than please told me last date of revised return for the ay 2017-18

Nikhil Kaushik

Nikhil Kaushik (Expert)

26 April 2018 no. it is not possible to file the revised return except for a few specific cases where you may request the principal CIT for condonation and file the return post acceptance of the request.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 April 2018 Revision of Return From A.Y. 2017-18

As per section 139(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.

In simple words, assessee can revise its return even filed after due date mentioned above within 2 years from the end of the relevant financial year.

For Example:

Mr. A can revise its return upto 31st March, 2019 for the AY 2017-18 even return was filed after due date or before due date.
For AY 2018-19 revision of return is allowed only upto 31st March 2019(up to the end of AY)