One of my friend filed & verify the ITR originally for ay 23-24 as on 16th July with refund of 10-20k and he got the intimation that now that your refund is due to be processed with the above amount soon with refund reference no.
However, he again filed the revised return as on 30th July due to some errors due to which refund amount gone below 10k and he did not verify the revised return yet only submitted.
Query is if he doesn't e-verify the revised return then it would be considered that null and void and no return hs been filed and original return will prevail and refund will be processed accordingly ??
Please guide & advise !
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ITR AY 23-24
Replies (5)
Quick Summary
Yes, correct.
Yes, If ITR not verified then its gone as invalid. Based on this the Original return is process and final.
It is better to e-verify the revised return immidiatley to
avoid future complications though the above learned said is correct as per ACT and RULES.
avoid future complications though the above learned said is correct as per ACT and RULES.
You have time till 30days from the date of 30th July to verify ITR. So it is still valid for 30days .So verify on or before 29th August to process the revised return
Revising after receiving a refund:
• If the original ITR for AY 2023-24 (filed 16 July) was processed with a refund, and you found an error, you could revise it until 31 December 2023 (the revision window). After that, a revised return isn't possible.
• If the error increases tax (e.g. missed income), file ITR-U (within 48 months, until 31 March 2028), paying tax plus additional tax.
• If it decreases tax (more refund), ITR-U isn't allowed. Seek rectification (154) if it's an apparent mistake, or Sec 119(2)(b) for a refund claim.
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