ITR Filing: How to Fix Errors in Income Tax Returns; Know More

If taxpayers make errors in their original filing, the income tax department allows them to file a Revised Income Tax Return (ITR). This could involve errors like as entering the incorrect bank account number, claiming an improper deduction, or misreporting interest income.

What is Revised ITR?

A revised ITR can be filed under Section 139(5) of the Income Tax Act of 1961. It permits taxpayers to correct any errors or omissions in their original tax returns.

So, taxpayers can fix errors in their previously filed Income Tax Returns by filing a revised ITR within the time limit provided.

FAQs related to Revised ITRs

If there any Charges to file a Revised ITR?

The filing process for revised ITR is free, and even late filers can submit a revised return.

What if the original ITR hasn’t been verified?

If the original ITR has not yet been verified, taxpayers may discard it and file a new one instead of submitting a revised return.

What is the Due Date to File the Revised ITR?

The deadline for submitting a revised ITR for the financial year 2023-24 (the assessment year 2024-25) is December 31, 2024, or before the assessment is finished, whichever occurs first.

What is the Maximum Time to File a Revised ITR?

There is no limit on the number of times you can file a revised ITR, as long as you meet the standards.

How to File a Revised ITR?

There are various steps involved in filing a revised ITR. These are listed below.

To file a revised ITR, follow these steps:

• Visit the Income Tax e-filing website and log in to your account.
• In the “General Information” section, select “Revised Return” under Section 139(5) from the drop-down menu.
• Enter the details of your original return.
• Choose the correct ITR form as per your Income.
• Make the necessary corrections or updates in the revised return form.
• Submit the revised return after carefully verifying all the details.