What’s last date for revise tax filing, ( to change ITR form) is it mandatory to e-verify, and then revise. Kindly answer. I don’t want to pay penalty or get notice.
Hi @Vik
The last date by which the return can be revised is 31st December 2024 for FY: 2023-24. Moreover, in case you have not e-verified the existing ITR, you can simply file a Revised ITR by discarding the earlier one.
Moreover, you would need to pay interest if the tax liability as per Revised return is more than the original return.
Hope this clarifies. For further assistance, you can connect with me on my instagram handle @FinTaxSnippets.
Thanks,
CA. Pulkit Garg
Hello @Vik,
Yes, you’ll have to e-verify the ITR within 30 days. You can file a revised ITR till 31st December.
Hi, if I file ITR1 in July and without e-verifying, can I file revised one in November 2024, with ITR 3.
My income is under 5 lakhs including equity and futures.
Please advise will there be any penalty charges/interest.
Thanks
Hey @Vik,
Just e-verify this return before 30 days and then you’ll be able to file the revised ITR anytime before 31st December.
if I file ITR1 in July and without e-verifying, can I file revised one in November 2024, with ITR 3.
My income is under 5 lakhs including equity and futures.
Please advise will there be any penalty charges/interest.
Thanks
Hey @Vik,
If you don’t e-verify, it’ll be considered as if the return was not filed and you’ll have to bear late filing penalty. You won’t be able to carry forward losses either (if any).
After e-verifcation of original filing, if IT department process it, will I still have chance to revise the filing before December 24. Without any notice or fine.? Pls advise. My total income is less than 5Lakhs.