Question
What is the time limit for filing revised return at
present?Solution
As per the Income Tax Act 1961, the time limit for filing a revised return at present is: Before the expiry of one year from the end of the relevant assessment year For example, if the relevant assessment year is 2021-2022 (AY 2021-2022), the taxpayer has the option to file a revised return for that assessment year until the end of the next year, i.e., before March 31, 2023. Please note that the time limit for filing a revised return may be subject to change in the future due to amendments in tax laws, so it is always essential to refer to the latest tax rules and regulations at the time of filing.
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