Income Tax alert: Want to file revised ITR? Here is what you should do

Income Tax alert: Filing Income Tax on time is one of the most important responsibilities that an earning individual has to carry out every year.

If you find an omission or a wrong statement in the original ITR, make a correction by filing a revised income tax return in the e-filing portal. Photo: Reuters

Income Tax alert: Filing Income Tax on time is one of the most important responsibilities that an earning individual has to carry out every year. At a time when the Income Tax Department has made a huge database that has details of the majority of the earning individuals, not filing an Income Tax Return (ITR) may land you in problems. However, filing a wrong ITR may also land you in problems. Sometimes, people unknowingly commit mistakes while filing their ITR. For them, there are some certain ways through which one can correct the mistake.

Speaking on how one can revise one's ITR CS Sudheer, CEO at IndianMoney.com said, "If you find an omission or a wrong statement in the original ITR, make a correction by filing a revised income tax return in the e-filing portal. You can file the revised return any time before the end of the relevant assessment year or before the completion of the assessment, whichever comes earlier."

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On step by step guide for the income taxpayer on how one can file revised returns online, CS Sudheer listed out the following steps:

1] Visit the Income Tax e-filing portal incometaxindiaefiling.gov.in;

2] You then login to the e-filing portal by entering the PAN (User ID), Password, Captcha and then click ‘Login’;

3] Click on e-file menu and then click the ‘Income Tax Return’ link;

4] On income tax return page;

5] The PAN gets auto-populated;

6] Select ITR Form Number and Assessment Year;

7] You then select ‘Filing Type’ as Revised Return;

8] You then select ‘Submission Mode’ as ‘Prepare and Submit Online’;

9] You find the Online ITR Form under the ‘General Information’ Tab. You must choose ‘Return Filing Section’ as ‘Revised Return under Section 139(5)’ and ‘Return filing type’ as ‘Revised’;

10] You then enter the acknowledgment Number and Date of filing of the original return. (It is compulsory to enter the 15 digit acknowledgment number when filing revised ITR);

11] You fill or correct relevant details of the online ITR form and then submit the ITR; and

12] Finally, e-verify the ITR returns for faster processing and refunds or send ITR-V through normal/speed post to Centralized Processing Center, Income Tax Department, Bengaluru – 560500.

So, if you follow the following steps, you can file the revised ITR online on your own.

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