Revised return for the AY 22-23

one assessee file his income tax return for the AY 22-23 before 31-7-22, he file his return in form ITR 4 instead of ITR 3, his earlier return was assessed by the department. but he want to file his correct return and mention his agriculture income and capital loss. can he file his income tax return, any penalty or late fee charged by the department.
Replies (6)
Quick Summary
An assessee who initially filed their AY 22-23 income tax return using ITR 4 instead of ITR 3 can revise their return. This allows for the correction of agricultural income and capital loss details. Importantly, there are no late fees or penalties applicable for filing a revised return under section 139(5), even if the original return was already assessed by the department.

The assessee can now revise his ITR and corrections can be made. The tax liability will be revised accordingly. There will be no late fees for such revision
Ok sir, thanks a lot sir
Have you received any notice from income tax department.
@ Singh Kamboj ,

You can file revised return under section 139(5) and file ITR-3. ..

Late fees or penalty is not applicable
No notice is received till day
Notice is not required for revised return

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