What is the time period for filing of revised return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2015
Dear all
what is the time period for filing of revised income tax return
what is the time period for filing of revised income tax return
06 September 2015
Revised Return - Section 139(5)
If any person, having furnished a return under sub-section (1) of Section 139 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 :..”
So it is clear that belated return u/s 139(4) can not be revised.
In simple terms , a person can revise return within:-
1)before expiry of one year from the end of relevant assessment year or
2)before completion of assessment, whichever is earlier.
If any person, having furnished a return under sub-section (1) of Section 139 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 :..”
So it is clear that belated return u/s 139(4) can not be revised.
In simple terms , a person can revise return within:-
1)before expiry of one year from the end of relevant assessment year or
2)before completion of assessment, whichever is earlier.
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