A person misses the due date and then furnishes his return under section 263(4) of the Income-tax Act, 2025. What is such a return called?
Question and options
A person misses the due date and then furnishes his return under section 263(4) of the Income-tax Act, 2025. What is such a return called?
A revised return
A return of loss
A defective return
A belated return
Answer and explanation
Correct answer: D - A belated return
Section 263(4) lets a person who has not furnished a return within the time allowed by section 263(1) furnish it later, within nine months from the end of the tax year or before completion of the assessment, whichever is earlier; this is a belated return. A revised return under section 263(5) corrects an omission or wrong statement in a return already filed.
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