The last date of filing income tax return has expired. Income tax department has extended the last date for filing income tax return from 31 July to 5 August. This time there are some new rules like filing income tax e-filing mandatory for the assessee having income more than 5 lakh rupees. So it also created load on e-filing portal of income tax website.
There is a rule in India as some people always do the work on the last date or day before last day despite grabbing extensions. If you are the one of them, there is always a chance you might forget some of your income to disclose or some deductions to deduct. In this case you can file your revised return under income tax act 1961. , provided the omission of wrong statement in the original return was due to a bonfide mistake.
Section 139(5) of the IT Act provides that you can revise a return within a year from the end of the assessment year or before completion of assessment whichever is earlier. So you can file the revised return u to 31 March 2015 or before completion of assessment, whichever is earlier. But only original return can be revised.
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