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revise return

priyankagupta (article) (361 Points)

25 March 2019

I want to revise return of ay 2017-18.but notification display that time is over by Compu tax but ass proceduee is open. Now how can I revise the return.

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 25 March 2019

You can revise ITR AY 17-18 up-to 31st March 2019...

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Sahil Jain (FAFD, DISA, CA) (Practicing Chartered Accountant ) (2476 Points)
Replied 25 March 2019

Last date for revising ITR of Asst Yr 17-18 was 31st March, 2018 and the date has been over.
As per recent amendment, returns can be revised only up to end of assessment year and in your case that has been gone on 31st March, 2018.

You can file revised return against the assessment notice received by you, else you cannot revise the returns.

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 25 March 2019

No dear Mr Sahil.,

We can't file original return for the AY 17-18.
But, We can file REVISED RETURN for the AY 17-18 up-to 31st March 2019...

Sahil Jain (FAFD, DISA, CA) (Practicing Chartered Accountant ) (2476 Points)
Replied 25 March 2019

Mr Raja, previously the Act used to say return can be revised upto 1 year from end of relevant assessment year. However in Budget 2017, they removed the working "1 year" and now it says only till end of assessment year. This has been in effect from 1.4.18
You can also check the same under sec 139(5) of IT Act under Income tax website itself.

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CA Ankit Garg (MD | Genuine Filings) (781 Points)
Replied 25 March 2019

Raha ji, Sahil ji is right, from Budget 2017 the revision provisions has been changed now you can revise your return upto the end of relevant A.Y only and belated return can also be filed & revised till the end of relevant A.Y. only

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 25 March 2019

Yes I agreed both if You Dears...

But, The effect from 01.04.2019
Also, We can revise ITR for the AY 17-18 on or before 31st March 2019...

Also I done it some of the ITRs...

Please check out the details...

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