A Guide to Filing a Revised Income Tax Return

A Guide to Filing a Revised Income Tax Return

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Income Tax Return (ITR) filing is an essential financial task, and sometimes, mistakes happen. You might accidentally enter incorrect personal details, forget to declare a source of income, or miss claiming a deduction. The good news is, you can fix these errors by filing a revised return.

What is a Revised Return?

A revised return is a corrected version of your original ITR. It is filed to rectify any mistakes, omissions, or incorrect statements. According to Section 139(5) of the Income Tax Act, 1961, taxpayers are allowed to file a revised return to address issues like misreported income or incorrect tax calculations.

The deadline to file a revised return for the Financial Year (FY) 2024-25 (Assessment Year (AY) 2025-26) is December 31, 2025.

Key Points to Remember

  • Replacement: A revised return completely replaces your original return. The Income Tax Department will then process your tax based on the new, corrected filing.
  • No Penalty: The Income Tax Department does not impose any penalty for filing a revised return.
  • Original Filing is Key: To be considered a revised return, your original ITR must have been filed by the due date. If you missed the deadline, your filing will be treated as a belated return.

Revised vs. Belated Returns

It’s crucial to understand the difference between these two.

  • Revised Return: This is for correcting an ITR that was filed on time. There’s no fee for this.
  • Belated Return: This is an ITR filed after the original deadline. A penalty of up to ₹5,000 may be levied under Section 234F. For those with a total income of up to ₹5 lakh, the penalty is capped at ₹1,000.

How to File a Revised ITR

The process is straightforward, no matter if your original return is unverified, verified, or already processed.

  1. Log in to your account on the official Income Tax e-Filing portal.
  2. Go to e-File > Income Tax Return > File Income Tax Return.
  3. Choose “Revised Return under Section 139(5)”.
  4. Enter the acknowledgement number of your original ITR.
  5. Fill out the form with the correct details, ensuring all errors are fixed.
  6. Submit and e-verify the revised return. The unverified original return will be automatically invalidated.

Filing a revised return is a simple way to avoid potential notices from the Income Tax Department and ensure you receive any eligible refunds without delay.

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