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AY 2014-15

Bhargav (Business) (96 Points)

09 October 2016

is there any option to revise my ITR for a.y.2014-15?
if yes, can any one tel me the process?

original return processed.

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3 Replies

ANKUR TAH (Teacher Consultant and CA finalist.) (543 Points)
Replied 09 October 2016

yes, possible.
As per section 139 (5)Revised Return of Income Tax can be filed by an assessee any time before the expiry of 1 year from the end of the Relevant Assessment Year or before the completion of assessment (whichever is earlier)

CA Gyati Gupta (In Practice) (8227 Points)
Replied 11 October 2016

According to me ITR after being processed indicates that the assessment for the Relevant AY has been completed as after processing of return, refunds if any will be granted , demads if any will be raised.

Hence processing of Returns amounts to completion of assessment.

Now we would go by the text contained u/s 139(5), Return can be revised within one year from the end of the relevant asstt year or completion of asstt which ever is earlier.

Therefore, asstt is completed which means Revised return can not be filed.

But Return can be revised even after refund is recd. So kindly confirm from the deptt itself by calling helpline no.