How to file revised income tax return? This was the most common question in the comments section of my post on e-Filing. In spite of easy ITR form and quick e-filing option we can make mistakes. We may miss to add tax saving deductions in ITR form. We may miss to account capital loss to carry forward. We may also fill gross salary in place of taxable income. We may also fill the home loan interest in positive value. All these errors can be rectified by filing revised income tax return.
You may be aware that income tax is levied when you earn above the threshold. But income tax return should be filed even if you have not paid any tax. In fact filing return is important part of the taxation in India.
You Can File Revised Return Yourself
Like the original income tax return you can also file the revised income tax return. If you are a salaried and don’t need a CA for the original income tax return, you can also file revised income tax return yourself. The revised income tax return can be filed online through the http://incometaxindiaefiling.gov.in
Deadline for Revised Income tax Return
As you know for any assessment year the deadline for filing income tax return is 31St July. But the revised return can be filed till the end of the next assessment year. For example the revised return of assessment year 2014-15 can be filed till 31St March 2016. But there is a condition, assessment of the return should not be done by IT department before filing revised return. Normally, IT department assesses the return within 6 months of return filing. Hence, you should file revised return as soon as you detect the mistake.
What Do You Need For Filing Revised Return
- Revised return can be filed only after the submission of the original return. You should also send ITR-V of the original return.
- You must have acknowledgment number and date of submission of the original IT return. It is written in ITR-V.
- You can also get acknowledgment number and date after logging into the e-filing portal. To get it from the portal, click on the ‘View Return’. You would see all the returns you have submitted electronically. In the screenshot you can see the listing of all my returns. From this listing you can get the acknowledgment number as well as filing date.
How To eFile Revised Income Tax Return – The procedure
- Similar to normal income tax return e-filing, you should visit the income tax e-filing portal and log in.
- Like earlier you should click on the ‘Quick Efile’ (It can be found on the top left menu).
- Choose the assessment year and address option. Click submit.
- Read instructions and go to the next page. On this page you have to fill your personal details in the first section.
- In the second section, ‘Filing status’ you have to choose the employment category and about the return.
- You have to take care in this section. In the column A21 you should click on the drop down and choose the option ‘ 17-revised return- 139(5)’.
- Just below the column A21 there is another column. In this column ‘revised’ should be pre-filled, if not change this to ‘revised’.
- In the column A24, give the acknowledgement number of original income tax return and the date of return filing.
- Now go to the other pages and fill the correct information as you have done in the original return.
- Submit this form and e-Verify return. You can do it through the AAdhaar linked mobile or internet banking.
Points To Note For Revised ITR
- The revised return should be filed in the same mode. If you have filed original return electronically, you should file the revised return electronically as well.
- If you have not filed original return before the due date (31St July of assessment year), you can’t file revised return.
- You can also file revised tax return using different ITR form.
Do you have still any query for revised return. Feel free to use the comments section