I filed my ITR some days ago. But I recalled that I have not entered - Loss made on account of STCG in share market and income from other sources. Is there any time limit to file revise ITR (in my case ITR-2)? Can I file after 31st July 2016?
-Sanjeev Vasudeo Chintal
If you discover any omission or any wrong statement in your original return, you can re-file ITR with modifications. If the Return of Income for the Financial Year 2015-16 or Assessment Year 2016-17 is filed by you before the due date of filing of Income Tax Return i.e.5 th Aug 2016, and you later discover some mistake, you can file a Revised Return of Income Tax anytime up to 31st March 2017. The revised ITR can be filed irrespective of whether the original ITR assessment is completed (or not).
Please note that revised return can only be filed if the original return was filed on or before the due date of this assessment year (5th august). Also the mode of filing the revised return cannot be different from that of the original.
This article was originally published on August 23, 2016.
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