01 Nov

How to correct mistakes made while filing ITR

How to correct mistakes made while filing ITR?



An error in filling out an ITR can be corrected by filing a revised ITR. Section 139 (5) of the IT Act states that after filing their returns if a person finds something wrong or incorrect, he can file a revised return.

We take great care not to make mistakes while filing our Income Tax Return (ITR). However, many of us file our tax returns ourselves at the last minute, which can lead to unwanted mistakes. This may include entering the incorrect bank account numbers, forgetting to declare interest income or claiming the incorrect deduction, forgetting the matching details with 26AS etc.

However, don't worry if you make a mistake, current income tax laws allow you to correct it. If you find an error after filing your income tax return, you can correct your error as per the current tax law. Section 139 (5) of the Income-tax Act, 1961 allows taxpayers to rectify their errors by filing a revised income tax return.

Section 139 (5) states that if a person finds any omitted or incorrect statement after filing his tax return, he/she may file a revised return. This revised return may be filed three months before the end of the assessment year or before the assessment is completed, whichever is earlier.

The year following the financial year for which the return is filed in the assessment year. So, if you have made a mistake in your ITR, here is how you can file a revised return.

What is a revised return?

The revised return allows you to exclude errors or facts made while filing your original ITR. Filing a revised return means replenishing your return but this time with the right information. When filing a revised return, you must specify the details of the original return.

Who can file it?

Every taxpayer who files his / her ITR has the right to amend it as per Section 139 (5) to provide proper information to the Tax Department. Even those who file late ITRs, i.e., after the expiry of the deadline (currently 31 December 2021), are allowed to file a revised return. Previously, only taxpayers who filed an ITR before the deadline were allowed to amend their returns.

Last date for filing revised ITR

In Budget 2021, the government announced that the time to file a revised ITR has been reduced by three months. Until the financial year 2019-20, an individual was allowed to file an ITR till March 31 of the relevant assessment year. However, from the financial year 2020-21, the last date for filing revised ITR is 31st December of the relevant assessment year.

Due to the new coronavirus epidemic, the government has extended the last date for filing revised ITR for the financial year 2020-21 from the usual deadline of 31 December 2021 to 31 March 2022.

How to file a revised ITR

The process of filing a revised ITR is similar to the original file. However, when filing a revised ITR, you are required to file it under Section 139 (5) of the Income-tax Act. You need to select the 'Revised U / S 139 (5)' option in the 'Under Return File' column. The ITR form will ask you for the details of the original ITR, i.e., the receipt number and the date of filing the original ITR.

How often can you file a revised return?

There is no limit to how often you can file a revised return. Remember, every time you file a revised return, you need to provide details of your original ITR. Improving your tax return is an opportunity for you to correct your mistake, but one should avoid abusing this facility and be extremely careful when filing the original tax return.

Things to keep in mind

Once you've filed your revised ITR, make sure you've verified it. The income tax department will not accept your revised tax return unless it is verified. To verify your revised income tax return, you can use any of the 6 methods available to verify your ITR, i.e., electronic methods such as Aadhaar, OTP, EVC using net-banking or e-verification by sending a signature. Copy of ITR-V (acknowledgement) to CPC.



Santosh Patil






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