How many times do we file ITR in a year?

Filing income tax returns (ITR) is an essential responsibility for individuals and businesses alike. It helps ensure compliance with tax regulations and enables the government to collect revenue. However, the frequency of filing ITR can vary depending on several factors. In this blog post, we will explore how many times one needs to file ITR in a year, considering different scenarios and categories of taxpayers.

1. You can file an Income Tax Return (ITR) only once for each assessment year. However, if you realize that there are errors or omissions in your original ITR, you can file a revised return within the specified time limit. The time limit for filing a revised return varies depending on the assessment year and the type of ITR form you have filed.
2. Once you have filed your ITR for a specific assessment year, any subsequent revisions or corrections to the return can be made within a certain time limit under specific circumstances. The Income Tax Act allows for the filing of revised returns under Section 139(5) within the specified timeframe. However, it is important to note that revised returns can only be filed if you have identified any errors or omissions in your original return or if you have received a notice from the Income Tax Department.
3. The time limit to file a revised return is typically before the end of the relevant assessment year or before the completion of the assessment by the Income Tax Department, whichever is earlier. However, it is advisable to file a revised return as soon as you identify any errors or discrepancies to avoid penalties or legal implications.

It's worth mentioning that filing revised returns should be done with caution, and it's always recommended to consult with a tax professional or Chartered Accountant to ensure compliance with the applicable tax laws and procedures.