The provisions of Indian Income Tax laws, provides an option to assessees to file a Revised Return u/s 139(5) to amend any error which he might have committed while filing original tax returns by making modification or alteration in his old return to avoid any penal provisions. He can re- file its return for any previous year at any time before the expiry of 2 years from the end of the relevant pervious year or before the completion of the assessment. Thus a return can be revised in the following two cases:

• Within 2 years from the end of the previous year, or
• Before the completion of the assessment.

But a revised return can be submitted only if the original return was filled within the due date of sec 139(1). Now, a question arises, that can an assessee revise his erroneous tax return, after a notice under section 143(2) (Scrutiny assessment) has been issued. The main thing to note is that the provision for filing of rectification states that an assessee can revise his returns before completion of tax assessment. The notice under section 143(2) is just notice to initiate the assessment. Notice u/s 143(2) is an intimation that your return has been taken for scrutiny. This notice can be issued only after a summary assessment has been done. So it is well understood that the objective of issuing this notice is only to notify the assessee that his return will be subject to further assessment, so in no case the assessment has been completed. Thus a revised return can be furnished if 2 years have not expired. Moreover notice u/s 143(2) cannot be issued after 1 year from the end of the month in which return is furnished. Taxmantra.com has the expertise in handling individual taxation issues. Please feel feel to contact us for any assistance on any issues relating to individual taxation.