Return & procedure

Yes as per new rule belated return can be revised any no. of times

provided before completion of assessment year or completion of assessment by assessing officer whichever is earlier

@ rahul , could please specify the section or rule under which the belated returns can be revised?

thanks @ Rahul, got it, [[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 49[the expiry of one year from] the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.]

is there any penalty for revisied return?

Yes under section 234F there is a fee of rs 5000 if u filed ur return after due date of filing return and rs 10000 if return is filed after December

thanks