Wrong itr form

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.

Replies (5)
Quick Summary
If you've mistakenly filed an ITR1 form when you should have used ITR2 due to capital gains, don't worry. You can typically correct this by filing a revised return under Section 139(5) of the Income Tax Act. If the deadline for revised returns has passed and there's an additional tax liability, consider filing an updated return. Otherwise, await any notices from the tax department.

IF IT PERTAINS TO AY 2021-22, FILE REVISED RETURN U/S. 139(5) OF THE ACT.

File revise return

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.

What if time to file revised return has already expired?

If there is any additional tax liability, file UPDATED return.

Otherwise wait for any notice from department.

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