How to file revised ITR for AY 2024-25: If you’ve made errors in your Income Tax Return, such as entering an incorrect bank account number, claiming an ineligible deduction, or misreporting interest income, there’s absolutely no need to worry as the Income Tax Department offers you a safety net. You can file a revised Income Tax Return (ITR) to correct these mistakes and replace your original return.
Who can file revised ITR?
In the past, only those who submitted their Income Tax Return on time were allowed to file a revised return. Now, however, even taxpayers who submit their returns after the deadline can correct their mistakes through a revised return.
If you prefer, you can also choose to ‘discard’ an unverified ITR and refile it, instead of opting for a revised return. This option is available as long as the original return hasn’t been verified yet.
What is the charge for filing revised ITR?
Under Section 139(5) of the Income-tax Act, 1961, you can file a revised return if you’ve made any errors or omissions in your initial filing. This process is free of charge and doesn’t involve any additional fees.
How to file revised ITR? Check steps here
- Access the Income Tax e-filing portal and log into your account.
- Go to Part A under General Information and select “Revised Return” from the Section 139(5) drop-down menu.
- Enter the details of both your original and corrected income tax returns.
- Choose the appropriate ITR form that applies to your situation.
- Update or correct the information in the revised return form as needed.
- Submit the revised return, ensuring that all details are accurate.
- Double-check all the information before final submission.
How many times can you file revised ITR?
An individual can submit as many revised returns as needed, with no set limit. Additionally, revised returns can be amended further, though this is subject to specific conditions.
When is the last date to file revised return?
The last date to file revised Income Tax Return is December 31, 2024.