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The revised return under Section 139(5) has to be filed by 31 December. It can be filed even if the original return has been processed by the tax department. There is also no limit to the number of times that the tax return can be revised.

While the income tax department imposes no charges or penalties for a revised ITR, certain interests will be levied in case of a revision in income or a change in tax liability.

The income tax department imposes no charges or penalties for the purpose of filing a revised return. However, certain interests will be levied in case of a revision in income or change in tax liability.

What is the last date to file a revised return ? As per Section 139(5) of the income tax act, an assessee can file a revised return 3 months before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In the ITR utility, choose the 'Section' as Revised return under section 139(5)' and 'Filing type' as 'Revised'. 5. Enter the 'Acknowledgement Number' and 'Date of filing' of the Original Return filed. Note: It is mandatory to enter a 15 digit Acknowledgement Number while filing the revised return online.

Yes, you can file a revised income tax return, even if your ITR has been processed. Revised ITR can be filed online under section 139(5) of the income tax act. Choose section 139(5) and the filing type as 'revised. '

Yes, even if you forget to file a tax return by the due date of July 31, 2023, you are still permitted to file a belated return. Belated returns can be filed by December 31, 2023 too by paying a penalty of Rs 1,000 (for income between Rs 2.5 lakh and Rs 5 lakh) and Rs 5,000 (income above Rs 5 lakh).