Income Tax Return

Income Tax Return (1)

Oops!!! I did mistake in filling ITR, what to do now???

Hey relax, if you have done any mistake in filling ITR, you need not to get worried.

It will take your some time to get the return revise.

Revised return:-

v  Return of income can be revised as per section 139(5) of Income Tax Act,1961

v  Revised return is valid provided it must be within time limits

v  Revised return can be filled before the expiry of one year from the end of relevant assessment year.

v  Revised return can be filled if the original return is filled within the due dates specified in section 139(1)

For example:-

For F.Y 2013-14, A.Y. will be 2014-15. So we can file revise return for F.Y 2013-14 up to 31.03.2016 (end of AY 2015-16)

v  Return can be revised any number of times but within the time limits.

v  Revised return will substitute the original return.

Steps to revise your return online:-

  1. If you have filed original return online, then you have to revise it online.
  2. Open the excel file where you originally filled the return.
  3. Enable macros
  4. Select section 139(5) in place of section 139(1) as revised return.
  5. Change the return according to the mistake
  6. Click on compute tax, generate XML file by validating each sheet.
  7. Upload the file to income tax e-filling site.
  8. Download the revised ITR and sign it
  9. Send original and revised ITR sheet to CPC Bangalore


Steps to revise your return manually:-