Decoding Budget 2021 :- Revised Return can be filed within 3 Months Only
Previous Law:- Earlier Income Tax return can be revised U/s 139(5) at any time before the end of assessment year i.e one can file Revised Return till 31st March of Assessment Year.
Proposed Change in Bill:- Now You can revise Return only within 3 months of Filing of Original Return.
Example:- Mr A has filed his Original return on 05th April of Assessment Year. He can revise the same till 4th of July of Assessment year. Thereafter No Revision.
