Revised vs Updated return

20 February 2023

Namaste,
What is the difference between a revised return and an updated return ? kindly explain .

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178068 Points)
Replied 20 February 2023

Revised return filed under sec. 139(5) of IT act without any penalty, but within due date, generally by end of December of the AY.

Updated return can be filed up to end of 2 years from the end of relevant AY u/s. 139(8A) of the act, with interest and penalty.

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Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 20 February 2023

Updated return starts where revised revised return deadline ends

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