I usually file ITR1 form since am a salaried employee. Last financial year I invested in equity and made some profits. Since there are some short term capital gain it looks like I should have filed the ITR2 form but I have filed ITR1 unknowingly as usual.
What should be the next steps?
Do i need to file a revised return or how to rectify this mistake?
Does cpc reject my form in this case and I can file rectification request?
Please guide me.
IF IT PERTAINS TO AY 2021-22, FILE REVISED RETURN U/S. 139(5) OF THE ACT.
A mistake made at the time of filing ITR can be corrected by filing revised ITR. Section 139(5) of the I-T Act states that after filing their return if someone discovers any omission or wrong statement, he can furnish a revised return.
If there is any additional tax liability, file UPDATED return.
Otherwise wait for any notice from department.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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