Revision of ITR

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IS IT POSSIBLE TO FILE REVISED eRETURN WITHOUT PENALTY? IF YES, CUT OFF DATE?

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Yes, you can file your revised e-return within 1 year from the end of the assessment year without penalty subject to condition you have filed your original return before due date.
Yes, if you read carefully any ITR it is specifically mentioned if Revised Return than please write receipt number for original return filed with date. As per Act : The provisions of sec.139(5) provide that a revised return can be filed before completion of one year from end of assessment year Only where a return has been furnished u/s.139(1) or in response to a notice issued u/s.142(1) Where belated return is filed u/s.139(4), assessees cannot file a revised return u/s.139(5).

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