About Revise ITR for Last 3 ITR

Dear Experts,

If last three ITR 2022-23, 2023-24 and 2024-25 has been filed already on time, but now have to revise it all because of change in business name only, so can all the ITR can be revised and any penalty or late fee will be applicable ?

Thank you
Replies (3)
Quick Summary
If you've filed your Income Tax Returns (ITR) on time for the last three assessment years (2022-23, 2023-24, and 2024-25) but need to revise them solely due to a business name change, there are limitations. Revised returns can generally only be filed for AY 2024-25 until December 2024. For earlier years, revision is typically time-barred. Furthermore, an Updated Return under section 139(8A) cannot be filed for a simple name change.

Revised return can be filed only for AY 2024-25, till Dec. 2024.

For earlier years, you cannot revise them, as it is time barred now.

Updated Return may be filed under section 139(8A)

Updated returns cannot be filed for just name change.

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