What is the time period for filing of revised return

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Querist : Anonymous (Querist)

06 September 2015 Dear all

what is the time period for filing of revised income tax return

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 September 2015 Revised Return - Section 139(5)

If any person, having furnished a return under sub-section (1) of Section 139 discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier :..”

So it is clear that belated return u/s 139(4) can not be revised.

In simple terms , a person can revise return within:-

1)before expiry of one year from the end of relevant assessment year or
2)before completion of assessment, whichever is earlier.