Revised return last date
kuldeep singh (63 Points)
25 July 2018
i already filed i.tax return (A.Y 2018-19) dt. 15-07-2018 if i file revised return after 31-07-2018 kya penalty lagega?
4 Replies
CA ABHAY GUPTA
(Practice)
(3235 Points)
Replied 25 July 2018
as per section 139(5) of income tax act an assessee can revised return filed under section 139(1) or 139(4) any number of time before the end of relevant assessment year or completion of assessment which ever is earlier... if an assessee revise his return then it will substitute with the original return filed meaning by that original return will be deemed withdrawn and revised return will be considered and will be deemed filed on date the original return submitted.. since you have filed ur original return on 15.07.2018 nd in case u revise ur return it will be deemed that u revised ur return on 15.07.2018 and as per section 234F if you filed ur return with in due date as mentioned under section 139(1) no penalty or late fees will levy..
nitin
(article)
(169 Points)
Replied 25 July 2018
you can revise the return if the assessment has not been completed without any penalty.
Aatreyi Sinha
(47 Points)
Replied 25 July 2018
But if you have completed all the necessary updates and submitted before date, then there is no penalty
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