how many times revised return can be filed: If a person (Taxpayer) after furnishing the Income tax return finds any mistake, omission or any wrong statement (defective return), then return should be revised within prescribed time limit.
A return can be revised before the end of the Assessment Year or before the completion of the assessment; whichever is earlier.(w.e.f A.Y 2018-19)
However for the earlier Assessment Years preceding to the )AY 2018-19 , a return can be revised before the expiry of one year from the end of the AY or before the completion of the assessment by the Department; whichever is earlier. (till A.Y 2017-18).
If original return has filed in paper format or manually, then technically it cannot be revised by online mode or electronically.
Revised return can be filed online under Section 139(5) of Income Tax Act.
Section 139(5) of Income Tax Act– 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 the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
AY- (Assessment Year)
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Can revise return be filed more than once? Please, reply.
Thanks