Revised ITR: It is very important to fill correct and accurate information in the Income Tax Return (ITR), otherwise there is a risk of getting a notice. But, sometimes mistakes are made in it.
Such as reporting the income incorrectly, missing a deduction or entering the bank account number incorrectly. The good thing is that you can correct these mistakes within the time limit set by the Income Tax Department.
For this, a revised return has to be filed under section 139(5), in which the mistakes are corrected. Let us know how to file a revised return and what mistakes can be corrected in it.
Deadline for filing ITR
For FY 2024-25 (Assessment Year 2025-26), individual taxpayers have to file returns by 15 September 2025. If your total income is more than ₹2,50,000 or you are claiming a refund, then filing ITR is mandatory.
These mistakes happen while filing ITR
- Choosing the wrong ITR form
- Mismatch with Form 26AS/AIS
- Non-filing of return by the due date
- Not filing ITR e-verification on time
- Claiming fake deductions and HRA
- misreporting income
- Non-payment of Advance Tax
- Filling incorrect personal details
- Entering the bank account number incorrectly
- Ignoring tax department notices
Revised ITR: Keep these things in mind
- You can make corrections in ITR as many times as you want till the deadline of the Income Tax Department.
- There is no separate fee for revising ITR, but tax and interest may have to be paid on the missed income.
- A new Acknowledgement number is received on every revised ITR, the old number gets replaced.
- After filing the revised return, it is considered as your final ITR.
If the assessing officer has completed the assessment under section 143(3), a revised return cannot be filed.
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