Revised Income Tax Return: Correcting Errors and Fixing Mistakes

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.

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.

• Under the ‘e-File’ tab, select ‘Income Tax Return’ and choose the option for filing a revised return.

• Provide details such as the acknowledgment number and filing date of the original return.

• Choose the same ITR form that was used for filing the original return, based on your income sources.

• In the revised return form, correct any errors or update information related to income, deductions, etc.

• 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

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