How to File Revised ITR

You have filed your IT returns on time but have realized that you made an error in the return. What can you do now? Well, you have the option to rectify your returns and file a revised return if the mistake is genuine. You can file a revised return for the financial year 2017-18 up to March 31st 2019. You can also file a revised return for earlier years.

Steps to File a Revised Return

1.    Login on the income tax website - https://incometaxindiaefiling.gov.in/ with your login credentials (PAN and password) and date of birth.

2.    Select the option – 'Rectification' under 'e-file' tab.

You will get this screen -

Select the type of return, the assessment year and communication reference number.

In the next screen, enter the reason for revising the returns. You can select up to four reasons.

Then select one of the two options - Tax Credit Mismatch or Tax / Interest Mismatch.

Select to view the Form 26AS to check the details and Tax Credit Mismatch option to view the tax credit mismatch if any. You have to upload the revised XML generated from the tax utility software if tax computation related data has to be rectified. If you have to revise for tax credit mismatch etc, you need not upload the revised XML.

You can then submit for rectification.

If the return has been audited already, the revised IT return has to be digitally signed.

Verify the revised return.

Other online tax utilities also support revision of returns. The steps depend on their software.

Points to Remember while filing Revised Returns

• You can revise an ITR return any number of times provided the previous one for the same assessment year is processed.
• Revision of IT return can be done with the same ITR form that was used for the original return. You cannot change the ITR form during rectification.
• You cannot file a revised return in paper if the IT return has been filed electronically and vice-a-versa.
• You can withdraw a rectification request within three days of filing by logging in the account, selecting the ITR has to be withdrawn and selecting to withdraw.
• Rectification can be done only for genuine mistakes and omissions. If there is any suspicion of tax evasion, concealment of income etc. the revised return may be ignored and a scrutiny can be initiated.
• Losses other than loss on property cannot be shown in revised returns.

It is important to file accurate IT returns. If you think you have made an error, do make an effort to revise your returns. It is not difficult and it will save you from hassles.