Filling ITRIncome TaxIncome Tax DepartmentITR

Filing ITR | How to Rectify Mistakes Managed while Filing ITR?

How to Rectify Mistakes Managed while Filling ITR

How to Rectify Mistakes Managed while Filing ITR?

The last-minute rush improves the likelihood of the most common error/error opportunities when filing ITR on income tax. Sometimes, it may occur when you miss filling out your bank account number, place, inaccurate aadhaar information, filling out a wrong quantity or claiming an incorrect deduction, section, etc. In some instances, even experts miss out on some significant tax figures to place in the return of their client.

So, what can be the possible solution to all these?

Is prompt rectification possible?

The tax department does not provide the taxpayer with any rapid rectification alternative in the event of non-reporting or misreporting mistakes, other than only submitting a revised return.

Section 139(5): Filling a Revised Return

This section offers the taxpayer with the ultimate chance to make his / her error and solve the mistakes in filling the initial return under section 139(1) of the 1961 Income Tax Act (“IT Act”). A taxpayer may reconcile and resubmit a revised ITR according to Section 139(5) before the end of the relevant assessment or assessment year after filing ITR for the relevant preceding year.

To file a corrected income tax return, online one has to:

– Login to the e-filling portal of the Income-tax department.

– Choose the related tax assessment year, form applicable and file correct details.

– Choose filing type as ‘U/s Section 139(5) – Revised Return ‘.

– E-verify returns online using Aadhaar OTP or by sending it to the IT CPC, Bangalore or other modes.

Due Date to file

For mistakes made in the initial return, the taxpayer only has the choice of reviewing it before the completion of the evaluation or the corresponding evaluation year, i.e. for FY 2018-19, the due Date for filing the amended return would be March 31, 2020.

Things to Know

1. There is no maximum limit to the department for submitting amended yields

2. Details of the initial return must be provided instead of the amended return.

3. Once the tax officer concerned processes the evaluation or review of the real performance (u / s 143(3)), it is not permissible to file a modified return.

4. If the corresponding gain is revised before receiving the tax notification, the taxpayer will not be charged any penalty.

5. It is only possible to file an amended return for omissions or errors made in actual return and not for false additions or income sources concealment.


Can a revised return be e-filed if the original return is e-verified offline by sending to CPC?

Yes, e-verification online can provide the same return with appropriate modifications.

I am filling a revised return without responding to a defective return. Is it possible?

Yes, a revised return may be submitted in the same usual manner upon self-assessment or receipt of notification instead of faulty return.

Can a revised return be filed if the actual return is declared invalid by department?

Yes, it is necessary to file a revised return before the due Date.

What if I filed a wrong revised return?

If filed in due time, it may be revised but once processed, a penalty may be levied under section 271(1)(c) to fill in the wrong details as identified by the IT Department.

Note: Due Date Date for filing revised return for FY 2018-19 is March 31 2020.

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