1. Filing Income Tax Returns at the last minute can lead to unwanted errors being made. If you are the one, who missed something or made a wrong statement in it and discovered the mistake after filing the income tax return, not to worry.
1.1 Income-tax Act, 1961 allows you to rectify the mistakes by filing a revised income tax return. The last date of filing revised ITR for AY 2021-22 is 31st March 2022 or before the completion of the assessment, whichever is earlier.
1.2 It is recommended not to wait till 31st March 2022 for filing the revised return as once I-T Department finishes the assessment that would be the last day to revise your return.
2. COMMON ERRORS IN FILING ITR: The common errors in filing ITR which can be corrected by filing Revised Return includes wrong bank details, Incorrect personal information, selecting wrong ITR Form, mismatch of income between the ITR and 26AS, Missed income or deductions, Missed to report & Carry forward losses, etc.
3. STATUTORY PROVISION: If any person, having furnished original return discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier- Section 139(5) of Income Tax Act 1961.
4. LAST DATE OF FILING REVISED ITR: The last date of filing revised ITR is December 31 of the relevant assessment year. Due to the outbreak of Covid-19, the government has extended the last date of filing revised ITR for FY 2020-21 to March 31, 2022, from the normal deadline of December 31, 2021.
5. STEPS TO FILE REVISED RETURN
(a) Login to the portal www.incometax.gov.in
(b) Status Check: First of all, check the status of your original filed return on the portal. The path is – e file > Income Tax return > View Filed Returns. If the status is indicating return processed, it cannot be revised.
However, For FY 2020-21, the option to revise the return is available even for the taxpayers whose return status is showing “Processed.“The reason may be that by the time AIS (Annual Information Statement) is made available on the portal, many taxpayers have already filed their returns. It is expected of them to revise the return based on information available in AIS.
(c) Acknowledgment Number: 15 digit Acknowledgment number / Receipt No. of original return will be auto-populated and filed u/s 139(5) will be highlighted.
Receipt No. & Acknowledgment number is the same. The path for TAB filing Status is the same as in the case of the original ITR
(d) Now, fill in correct details considering the errors done in the original return and just file the return as the original one was filed. The process of filing a revised ITR is the same as filing an original one.
(e) Verify the return: Once you have filed your revised ITR, ensure that you have verified the same. The income tax department will not accept your revised tax return unless it is verified. Even if your original return is not e-verified and you try to file a revised ITR, it will show an error. First E verifies the original return and then files the revised one.
(f) Validate the Revised Return Validation is a must even for filing a revised return. You cannot proceed to submit a revised return until it has been validated.
6. On receiving this revised return, the Income Tax Department searches for the original return which is retrieved using the 15 digit acknowledgment number. It then replaces the previously filed return with the newly revised return.
7. FEE & PENALTY There is no fee and penalty for filing a Revised Return.
8. OTHER RELEVANT POINTS :
(a) The Revision can be done either in the same ITR Form in which the original return was filed or in a different ITR Form.
(b) There is no limit for the number of times you can file a revised return provided it is within the prescribed time limits. However, a returns revised number of times have a higher chance of landing a scrutiny letter from the I-T department.
(c) Belated return can also be revised.
(d) You can revise your income tax return even if you have received Income Tax Refund. Receipt of refund does not mean that your assessment is complete. For income tax refund, intimation under Section 143(1) is sent which is different from Assessment as mentioned above.
(e ) Revised return can be filed even after receiving intimation u/s 143(1)
(f) ITR can be revised on receipt of notice under section 148 as it is provided u/s 148 that for such return all the provisions of section 139 shall apply. If the ITR is revised before the notice under Section 148 is issued, then there is no penalty.
9. FREQUENTLY ASKED QUESTIONS :
Q: I have filed the original return and paid the tax also. where shall I adjust the taxes paid when filing the revised Return.
Ans Enter the detail of such payment under the TAB Taxes paid > Self Assessment tax paid.
Q: Whether I need to adjust the amount of refund received from the originally filed return?
Ans: No. The refund paid to you will be adjusted at the time of processing the revised return.
10. CONCLUSION: It is strongly recommended that if any mistake is discovered after filing the original return, rectify the mistake yourself by filing a revised return rather than waiting for the Govt to send a notice.
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Disclaimer: The article is for information purposes only.
The author can be approached at caanitabhadra@gmail.com
Author Bio
mam
I want revised return 21_22
You cannot revise return of FY 21-22 now.
sir/mam please solve my issue..I have filed my original return for AY 23-24 and immediately due to some issues I revised my return.but department processed original return only.and again after refund I thought it was correct and revised it as it is as first.later with someone’s help I got to know that’s not correct and then I revised it for the final time like there is no refund this time.tax paid is tax liability and 0 refund.as I already got 20k refund.department will they process all the revised returns and refunds for the both revised returns and finally being no refund department demands all those refunds.kr department will process only final revised return?please clarify me
The department will process the last return .
There will be demand in case refund was paid and the same is not due as per your last (latest filed) return .
Sir
I filed my return for the financial year 2021-22 in the month of August 2022. but, due to mistake of the Bank someone’s else PAN was entered to my account number, due to which Rs.4250/- was shown in my 26AS. Whereas, the same entry was get rectified by the Bank. But, i didn’t new the last date for filing revised ITR last date, What can be done now.
i want a y 2021-2022 income tax return revised return file now. How
You can file updated Return
can twice revised return filled for AY 2022 2023
Return can be revised twice or even more
CAN I FILE THE REVISED RETURN BEFORE PROCESSIONG OF ORIGINAL RETURN.
MAM I Have submitted ITR ay 22-23 on 27th July but signed copy yet not send to bangalore, can i revise the return as there is credit mismatch between 26AS & ITR Filed. I claimed short TDS refund than 26AS.
I filed my original return under old tax regime but revised return under new tax regime on 25th march 22. But the same was assessed with old regime without relief Under SEC 80C. And demanded Rs 74,000. Plz help
Ta regime cannot be changed at the time of filing revised return
My Father who is Super Senior Citizen 85 years ,did not file his ITR , Tax deducted by bank 8600, which is refundable as total income is less than 2 lacs.
I just checked today,can we get refund now/File ITR / how can we get condonation for this or have to pay penelty.
Nothing can be done now. Date to file revised return is already got over.
Mam I have filed itr of the financial year 2020-21 on 29 dec.2020. Mem I want to take deductions in it, so what can I get now?
FOR FY 2020-21 FILLED REURN AS ON 15.07.2021 CORRECTLY AT THAT TIME DUE TO SOFTWERE PROBLEM ACKNOWLEDGEMENT NOT DOWN LOADED NOW I HAVE REFUND ORDER AND REFUND ORDER SO ALL INCOME ZERO AND TDS DEDUCTED BY EMPLOYER SHALL BE REFUNDED BUT INCOME UNDER SALARY SHOWS ZERO HOW CAN RECTIFY THE SAME WHAT TO DO TO FILE CORRECT DETAILS PLS REPLY AS EARLY POSSIBLE
Sorry – I am unable to understand your query.
Please reframe the query and e mail it to me – caanitabhadra@gmail.com
I had already filed a return for AY2021-22 on 5th Oct, 2021 and is already processed without any demand or refund. But, I received an email from IT dept. on 30th March, 2022 that my savings account interest amount is not reported in the filed ITR and they are now asking to file a revised return. But by the time, I saw that email, last date for revised return 31st March, 2022 has already passed. Now, it’s not accepting the revised return. What can I do now?
i have filed my return 6 december 21 claimed the tds as per 26AS, now i am getting excess tds about 12000. I have received 143(1) order also how can I clai the tds now revise return is not accepting in the I T portal . please give a solution for my problem
Intimqtion from it department had been Responded and mistakenly choose to revised return instead of confirm the refund amount. Now date of revised return is over so system is not allowing to file revise return.
Kindly give solution
My itr1 is fill 7/11/2021 but not prossed
Sir,
I am a pensioner. I myself filed the ITR for AY 2021 2022 on 10.03.2022 as my IT consultant told me that return filing date is extended up to 15.03.2022. Whether I have to pay penalty ? Also I want to know if wrong exemption is claimed, whether I can pay tax now and file revised return?
My return for FY 2020-21 has been processed. Society interest has been now reflected in form 26AS.
This interest is wrongly calculated by society. It has been calculated based on the maturity amount received in 2020-21, not on accrual basis. showing me huge tax liability. what to do ? shall I file a revised return based on my calculations? Soc. is denying for any rectification. time is also very less.
File the revised return as per your calculations and keep the records ready for any notice/ demand raise by the department in future.
Since there will b mismatch in 26AS and your return. You may get notice .On receipt of notice – justify your calculation by submitting reply to notice
I filed my original return under old tax regime but revised return under new tax regime.Will that be considered because I have filed revised return thrice but every time I’m getting a demand though if considered under new tax regime I’m eligible for a refund.
Sir, I have submitted my I.T. return for April 1,2020 to March 31,2021 as Belated return on 26.2.2022. Now
I observed that My Long Term capital sale of Shares not reported on return. How can I REVISE or Rectify this mistake immediately. I have not yet send my Acknowlegement copy to CPC Bangaluru
Login to portal . On dashboard itself , you can see the option , File Revise Return .
Due date to file revise return is extended up to 31st March 2022
I have filed revised ITR on last year July end and still I haven’t received the refund amount. May I know, when I will get the refund for the revised ITR filed. Others who have just filed the ITR, they received the amount easily within 2 months and am the one who waiting for more than 6 months to get the refund. Let me know when will I get this refund.
Check status of Refund by entering PAN detail on TIN.NSDL.COM under the TAB Refund Status .
You will come to know the exact reason for delay . Depends on the reason , you can further submit re-issue request / Grievance after login to I Tax website.
Sir, I have filed ITR1 for AY 21-23 & recd. partial refund due to mis match of TDS credits .
While filing revised return, shall I Have to fill all the info like personal, info, gross total income , deductions etc fully fresh again or only relevant corrections u/s 139 (5) ?
Self assessment tax paid on 24.12.2020 and ITR for AY 2020-2021 filed without showing the self assessment tax. So received demand notice. Once again tax paid against the notice on 24.03.2021. Now how to get back the amount of tax paid twice?
Can I file Revised returns for the year 2021-22 under the New tax regime after my original returns under the Old tax regime has been approved?
i want my a y 2021-2022 income tax return revised return file now with tax