Revised vs Updated return

Namaste,
What is the difference between a revised return and an updated return ? kindly explain .
Replies (2)
Quick Summary
A revised return, filed under Section 139(5) of the IT Act, can be submitted without penalty by the end of December of the Assessment Year. In contrast, an updated return, governed by Section 139(8A), allows for filing up to two years after the relevant Assessment Year concludes, but it incurs interest and penalty charges.

Revised return filed under sec. 139(5) of IT act without any penalty, but within due date, generally by end of December of the AY.

Updated return can be filed up to end of 2 years from the end of relevant AY u/s. 139(8A) of the act, with interest and penalty.

Updated return starts where revised revised return deadline ends

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