When can one file a revised return? How many times?

In case you have filed your Income Tax Returns but later realized that there was any omission or mistake in filing your Income-tax Return, you can file revise return u/s 139(5).

Time Limit to file the Revised Return:

Till Financial Year 2015-16 (Assessment Year 2016-17), the time limit to revise a return was earlier of:

1. before expiry of one year from the end of relevant Assessment Year or
2. before completion of assessment

This means that the return for Financial Year 2015-16 (Assessment Year 2016-17) can be revised only upto 31/03/2018.

For Financial Year 2016-17 (Assessment Year 2017-18), the time limit to revise a return is earlier of:

1. before expiry of one year from the end of relevant Assessment Year or
2. before completion of assessment

This means that the return for Financial Year 2016-17 (Assessment Year 2017-18) can be revised upto 31/03/2019.

A return can be revised for any number of times till the time limit mentioned above.