05 February 2018
One of my friend, has retired from employment in the FY 16-17 and his employer has filed the returns for my friend in Form ITR 1 and has deducted the relevant tax amount from the settlement amount of my friend and remitted the Income tax. But, the issue is that, the said employer has filed the return without considering the premium amount paid to LIC for his and his spouse's policies in the FY 16-17. Please explain us the proceedure to claim the refund against the said payments made to LIC under Sec 80C
28 July 2024
Filing a revised return online through the Income Tax (IT) portal involves several steps. Here’s a detailed guide on how to file a revised return once you’ve logged into the IT portal:
### **1. **Log into the Income Tax Portal
1. **Access the Portal:** - Go to the [Income Tax India e-filing portal](https://incometax.gov.in/iec/foportal/).
2. **Login:** - Enter your User ID (PAN), password, and the captcha code to log in. - If you don’t have an account, you will need to register first.
### **2. **Navigate to the e-File Menu
1. **Go to e-File:** - Once logged in, hover over or click on the “e-File” tab in the menu.
2. **Select ‘Revised Return’:** - Choose the option “Revised Return” from the dropdown menu.
### **3. **Select the Assessment Year and Return Type
1. **Assessment Year:** - Select the relevant Assessment Year for which you want to file the revised return. This is the financial year for which you are revising the return.
2. **Return Type:** - Choose the appropriate return type (e.g., ITR-1, ITR-2, etc.) that matches the form you originally filed.
### **4. **Fill in the Details
1. **Choose the Original Return:** - You will be prompted to enter details of the original return that you are revising. Provide the original acknowledgment number and date of the return you wish to revise.
2. **Enter Revised Details:** - Fill in the revised details of your income, deductions, and tax calculations. Ensure all corrections are made and updated in the revised return.
### **5. **Upload the Revised Return
1. **Upload Documents:** - If required, upload any necessary supporting documents or attachments.
2. **Validate the Return:** - Click on the “Validate” button to check for any errors in the return. Fix any errors or warnings that appear.
3. **Submit the Revised Return:** - After validation, submit the revised return. Click on “Submit” or “Upload” to file the revised return.
### **6. **Generate and Download the Acknowledgment
1. **Acknowledgment Receipt:** - After successful submission, an acknowledgment receipt (ITR-V) will be generated. Download and save this acknowledgment for your records.
2. **E-Verify:** - If you choose e-verification, you can verify the return using one of the available methods (Aadhaar OTP, Net Banking, etc.). E-verification is mandatory to complete the process.
### **7. **Track the Status
1. **Check Status:** - Go back to the “My Account” or “View Returns/Forms” section to track the status of your revised return.
2. **Follow-Up:** - Monitor the status of your revised return and respond to any notices or communications from the Income Tax Department if needed.
### **Additional Points**
1. **Keep Records:** - Maintain copies of the revised return, acknowledgment receipts, and any correspondence related to the revision.
2. **Amendment Timeline:** - Ensure that you file the revised return within the permissible period as specified by the Income Tax Act (typically within one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier).
3. **Consult a Tax Professional:** - If you are unsure about any part of the revision process or if the revision involves complex issues, consider consulting a tax professional.
By following these steps, you can successfully file a revised return online through the Income Tax portal and ensure that your tax records are accurate and up-to-date.
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