Revised ITR

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This query is : Resolved

Quick Summary

Yes, you can revise your Income Tax Return (ITR) even if it has already been processed successfully. This is useful if you missed declaring certain income, such as interest from savings accounts, and subsequently received a notification from the income tax department. When revising, remember to claim eligible deductions like 80TTA or 80TTB. However, it's important to note that a revised return can typically only be filed up until the end of the relevant assessment year, which for AY 2020-21 was 31st March 2021.

Ritesh

Ritesh (Querist)

29 March 2021 Can we revised ITR even if ITR processed successfully ?

I want to revised ITR for AY 2020-21 (which was processed successfully) because interest on saving account was not declared in Original ITR, Due to that I got High Value Transactions notification from income tax department .

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

29 March 2021 Yes you can revise your ITR declaring saving bank interest. Also dont forget to claim 80TTA/80TTB deduction .

Ritesh

Ritesh (Querist)

29 March 2021 Thank you Madam .
All articles and information shared by you are very helpful and informative.
Thank you very much for providing guidance to tax players.

Message likes : 1 times

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

30 March 2021 WELCOME... PLEASURE IS ALL MINE ...