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Filing revised return - Is my return assessed?

Sunder (Manager) (95 Points)

08 September 2010

Friends,

I need to revise my Personal Income Tax Return for FY 2008-09. To my knowledge, I can revise only if it is not assessed. My questions are:

1. Is my understanding right? (i.e. Only if my return is not assessed, I can file revised return)

2. What is the last date or till when, I can file revised return.

Thank You

Sunder

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9 Replies

Sunshine (Helping All) (10575 Points)
Replied 08 September 2010

you can file revised return till the end of 1 year from the relevant assessment year or assessment whichever is earlier.......

so if your return is already assessed you cannot file a revised return....

venkatraman shrinivas (Tax consultant/Tax Advocate In Practice.) (313 Points)
Replied 08 September 2010

A revised return can be filed within one year from the end of the relevant assessment year or before the assessment is completed. But this option is admissible only for such persons who file the original return within the time allowed under section 139(1).

CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 08 September 2010

Dear Srinivas,

Revised Return under sec.139(5) can also be filed in a case where a person has furnished his return in pursuance of a notice issed under sec.142(1).

venkatraman shrinivas (Tax consultant/Tax Advocate In Practice.) (313 Points)
Replied 08 September 2010

Its true Mr.Mugundh. Thanks for pointing out the omission.

Regards,

Shrinivas.V.

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Ram Prakash Gautam (Manager Accounts & Taxation) (1006 Points)
Replied 08 September 2010

right mr. muguntha

Sunder (Manager) (95 Points)
Replied 13 September 2010

Originally posted by : Ram Prakash Gautam

right mr. muguntha

1. Thanks for the repsonses. Please correct me if I am wrong. For FY 2008-09, assessment year is 2009-10. Since I filed by returns on 30/07/2009, I have time till 31/03/2011 (one year from assessmen year) to file revised return for FY 2008-09. Am I right?

2. Also, since you guys are mentioning "assessed returns", is there anyway to know whether my return is assessed or not?

Thank You

Sunder

Sunder (Manager) (95 Points)
Replied 16 September 2010

Friends,

Can someone please confirm my understanding?

Thank You

Sunder

Sanjay Singh Rana (CA) (208 Points)
Replied 16 September 2010

If a person having funished return under section 139(1) or in pursuance of a notice u/s 142(1)(i)

he may furnish a revise return at any time :

before the expiry of one year from the end of the relevant AY
before the completion of Assessment
.............. whichever is earlier

Please Note : Assessment here refers to assement u/s 143(3) & 144 but not under 143(1) therefore a return can be revised after an intimation u/s 143(1) has been served since intimation u/s 143(1) is not an assessment CIT V S.R Koshti (2005)HC

In your case your PY is 2008-09

you filed the return under section 139(1) before due date i.e 31/07/09

last date of filing your Revised return is 31/3/11 and u can still file a revise return if assement order under section 143(3) & 144 have not been passed by AO

hope it will give you some clarity :)

thanks

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vipul maheshwari (CA FINAL ) (44 Points)
Replied 21 September 2010

revised return can be filled before the expiry of one year from the end of relevant AY or before completion of assessment whicever is earlier. you cannot file revised return if original return already assessed

1 Like