Filing an income tax return requires a careful and detailed process. But despite of our best efforts, mistakes happen.
If you have submitted ITR and realize later that you have made mistakes, there is a way to fix it without filing a revised ITR. Now, you can simply discard the unverified ITR and file a fresh one.
In the past, for correcting such errors, you had to verify the incorrect ITR and then file a revised one.
With the introduction of the 'Discard ITR' option by the Income Tax Department, taxpayers now have a simpler and more efficient way to correct their unverified ITRs.
What is the 'Discard ITR'?
The 'Discard income tax return' option allows users to completely delete an unverified ITR and file a fresh one. This option is available if the ITR status is 'Unverified' or 'Pending for Verification,' and you can use it for multiple times.
When to avoid using 'Discard ITR' option?
You should avoid using this option after the July 31, 2024 as it is the last date to file the return. If you choose this option after the due date, it might be considered as ITR has not been filed within the deadline. After this date, you'll have to file a belated ITR and pay penalties.
How to Use the 'Discard ITR' Option?
Step 1: Go to the income tax e-filing portal and log in with your credentials
Step 2: Go to 'e-Verify Return' under 'Income Tax Returns' on the 'e-File' tab.
Step 3: On the new page, you will see the unverified ITR with options to 'e-Verify' or 'Discard'. Click 'Discard' to delete the unverified ITR.
Advantages of Discard Return Option
- It makes the ITR filing process much easier by allowing users to delete unverified ITRs and and file a new one as many times as needed.
- The discard option minimizes the need for the revised ITR process.
- It is helpful in correcting any tax calculation errors by discarding the ITR and filing a new one.
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