Revised income tax return is a corrected version of your original tax return.
If you made any mistake in ITR and need to correct then you can submit the revised ITR which serves as a substitute for the original ITR.
![Revise ITR Revise ITR](https://www.caclubindia.com/guide/wp-content/uploads/2024/07/itreturn-1024x538.png)
Common Mistakes Requiring a Revised ITR
- Wrong ITR form (e.g., using ITR 1 instead of ITR 2)
- Incorrect income reporting or reporting income under the wrong column
- Missing income reporting (e.g., from mutual funds)
- TDS mismatch in Form 26AS or with Annual Information Statement (AIS)
- Incorrect or fake deductions claimed, or claimed lower deductions than eligible
Who is eligible to file a revised income tax return under Section 139(5)?
Anyone who has filed an original ITR under Section 139(1) of the Income Tax Act, 1961, is allowed to file a revised return under Section 139(5) if needed.
What is Belated income tax return?
Belated income tax return is a tax return filed after the original due date specified by the Income Tax Department.
A taxpayer can revise and refile their income tax return even if it was submitted late as a belated return.
Due Date to Revise ITR
The due date for submitting a revised ITR is December 31, 2024 to file the belated and revised income tax returns for FY 2023-24 (AY 2024-25).
Guide to Filing a Revised Income Tax Return
- Visit the official Income Tax e-Filing portal and log in using your credentials.
- On the dashboard, select the Relevant assessment year for which you want to file a revised return.
![Revise ITR Revise ITR](https://www.caclubindia.com/guide/wp-content/uploads/2024/07/2.png)
- Under the ‘e-File’ tab, select ‘Income Tax Return’ and choose the option for filing a revised return.
![Revise ITR Revise ITR](https://www.caclubindia.com/guide/wp-content/uploads/2024/07/3.png)
- Provide details such as the acknowledgment number and filing date of the original return.
![Revise ITR Revise ITR](https://www.caclubindia.com/guide/wp-content/uploads/2024/07/4.png)
- Choose the same ITR form that was used for filing the original return, based on your income sources.
![Revise ITR Revise ITR](https://www.caclubindia.com/guide/wp-content/uploads/2024/07/5.png)
- In the revised return form, correct any errors or update information related to income, deductions, etc.
![Revise ITR Revise ITR](https://www.caclubindia.com/guide/wp-content/uploads/2024/07/6.png)
- If changes require supporting documents, upload them along with the revised return.
- Carefully review all details in the revised return form for accuracy before submitting.
- After submission, a new acknowledgment number for the revised return will be generated. Keep this for future reference.
- E-verify the revised return using methods like Aadhaar OTP or EVC, or send a signed physical copy (ITR-V) to the CPC.
- Check the processing status of your revised return on the e-filing portal regularly.
Essential Tips for Completing ITR 1 Form Correctly For AY 24-25 Click here
FAQs
There is no penalties or charges for filling revised income tax return.
31st December 2024 for FY 2023-24 (AY 2024-25)