The government in Budget 2021 reduced the time limit to file revised income tax return by three months i.e., from March 31 to December 31. Earlier an individual used to get time till end of the assessment year to file their revised ITR but now they have three months less to do the same. This has created issues for those who used to file revised ITR to claim correct tax credit on foreign incomes.
Although July 31 was the due date for filing returns for the financial year 2022-23 (AY 2023-24), the Income Tax department has given time till December 31, 2023 to those who have missed filing the returns.