How to file Revised Income Tax Return?

Sparsh Wadhwa | Last updated: 16 November 2023

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Quick Summary

If you've discovered an omission or wrong statement after filing your Income Tax Return (ITR), you can file a revised return under Section 139(5) of the Income-tax Act, 1961. This allows any taxpayer who has already filed their ITR, including those who filed a belated return, to correct their submissions. You can file multiple revised returns, but you must provide details of the original return each time. The deadline to file a revised return is typically before the end of the assessment year or 31st December, whichever is earlier.

Section 139(5)- Revised Income Tax Return

Section 139(5) of the Income-tax Act, 1961, allows taxpayers to file revised income tax returns if they have made a mistake while filing their ITR.

Under Section 139(5), if an individual after filing their tax return, discovers any omission or wrong statement, then he/she can furnish a revised return.

Who can file a revised ITR?

Every assessee who has filed his/her ITR is allowed to revise it under Section 139(5) of the Income-tax Act, 1961, to provide correct information to the tax department. Even those who file belated ITR, i.e., ITR filed after the expiry of the deadline, are allowed to file a revised return. Previously, only those taxpayers who had filed ITR before the expiry of the deadline were allowed to revise their returns.

File Revised Income Tax Return: Guide and Steps

How many times can you file a revised ITR?

There is no limit on the number of revised returns you can submit. Do remember that you will have to provide complete details of the original ITR every time you file a revised return.

Due Date to file a Revised Return under the Income Tax Act

A Revised Return can be filed before the last date of filing the return (31st December) or before the completion of the assessment, whichever is earlier

How to file Revised Income Tax Return

1. Visit the Income Tax e-filing portal, 'www.incometaxindiaefiling.gov.in'.

2. Log in to the user and navigate to the e-Filing portal ID (PAN), Password, Captcha code and Click 'Login'.

3. Click on the 'e-File' menu 'Income Tax Return' link.

4. On the Income Tax Return page:

Your PAN will be automatic
Select 'Reference Year'.
Select 'ITR form Number'.
Select 'Filing Type' 'Original/Updated return'
Select 'Submission Mode' and select 'Prepare to. Upload it to the internet'.

5. In the Online ITR Form under 'General Information' Tab, Choose the 'Return Filing Section' as 'Revised return under section 139(5)' and 'Return filing type' as Revised

6. Enter the 'Acknowledgement Number'. and 'the date of the filing original return

7. Fill or correct the relevant details of the online ITR form and submit the ITR.

8. e-Verify the returns for faster processing and quicker refunds or Send the ITR-V through normal or speed post to Centralized Processing Center, Income Tax Department, Bengaluru.

It's important to note that there are time limits for filing a revised return, and it should be done within the specified period. Additionally, the process may be subject to changes, so it's advisable to check the official Income Tax Department website or consult with a tax professional for the latest information and guidelines.

The Author is an Income Tax, Accounting and GST Practitioner.