Revised revenue tax return: Eligibility, deadline, different particulars you need to know

ITR submitting: Due date for unaudited revenue tax return (ITR) submitting is gone however these taxpayers who wish to edit their return as they’ve crammed some incorrect info of their ITR like use of flawed ITR type, flawed checking account quantity, and many others., they nonetheless have an choice to try this. As per the revised revenue tax guidelines, a taxpayer can revise one’s revenue tax return below Section 139 (5) of the revenue tax act, 1961.

Speaking on the revised revenue tax return submitting guidelines, SEBI registered tax and funding skilled Jitendra Solanki stated, “A taxpayer is allowed to revised one’s income tax return under Section 139 (5) of the income tax act, 1961. Under this rule, those who have filed their ITR before or after the due date are eligible for revising one’s income tax return.”

On deadline or final date to file revised revenue tax return for the evaluation yr (AY) 2022-23, P_ankaj Mathpal, Founder & CEO at Optima Money Managers stated, “An income taxpayer can file a revised ITR prior to three months of completion of the assessment year. Hence, for AY 2022-23, last date to file a revised ITR is 31st December 2022,” He stated that one can file a revised ITR on-line by logging in a the revenue tax e-filing portal — https://www.incometax.gov.in.

Here we record out essential info in regard to revised ITR submitting for AY 2022-23:

1] Eligibility: Those who filed ITR on, earlier than or after thirty first July 2022 are eligible for submitting a revised ITR.

2] Income tax rule on revised ITR submitting: Section 139 (5) of the revenue tax act permits an revenue tax payer to revise one’s revenue tax return.

3] Deadline for revised ITR submitting: A taxpayer can file a revised revenue tax return previous to completion of three months of the evaluation yr. So, within the case of ITR submitting for AY 2022-23, final date to file a revised ITR is thirty first December 2022.

4] Due dates for ITR submitting for AY 2022-23: Due date for unaudited ITR submitting for AY 2022-23 was thirty first July 2022 whereas due date for audited ITR submitting for AY 2022-23 is thirty first October 2022.

5] ITR submitting final date: The final date for ITR submitting and revised ITR submitting is similar i.e. thirty first December 2022.

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