- If you discover errors or omissions in your original income tax return, such as incorrect income, deductions, or tax calculations, you may need to file a revised return.
2. Eligibility for Filing Revised Return
- A revised return can be filed if you have already filed your original return on or before the due date, i.e., July 31st, or any extended due date for the financial year.
3. File Revised Return Online
- Revised returns can only be filed online. Go to the official income tax e-filing portal and log in with your credentials.
4. Select the Appropriate ITR Form
- Choose the ITR form that corresponds to your original return and the assessment year for which you are filing the revised return.
5. Make Corrections
- Make the necessary corrections to rectify the errors or add the missing details in the revised return.
- Provide accurate information for the items you are revising while retaining the details that are not changing.
6. Generate and Submit the Revised XML File
- After making the corrections, generate the XML file of the revised return and save it on your computer.
7. Upload the Revised XML File
- Go back to the income tax e-filing portal, select "Upload Revised Return," and upload the XML file of the revised return.
8. Verify the Revised Return
- After uploading the revised return, e-verify it using any of the available methods like Aadhaar OTP, Net Banking, Demat Account, Bank Account, or EVC (Electronic Verification Code).
- E-verification must be done within 120 days of filing the revised return; otherwise, the return will not be considered valid.
9. Intimation of Processing
- Once the revised return is successfully processed by the Income Tax Department, you will receive an intimation under Section 143(1) containing the details of the revised assessment.
10. Preserve the Acknowledgment
- Keep a copy of the revised return acknowledgment and all supporting documents for future reference and tax audit purposes.
Ensure that the revised return is filed within the allowed time frame and that the changes made are accurate to avoid any discrepancies in your tax assessment.
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