Categories: Opinion

Want to revise your income tax return? Here’s how

You have already filed your Income Tax Return (ITR) for assessment year 2018-19 when you realize that there is a mistake in the filing. Well, the Income Tax (I-T) Department has a provision to revise an already filed return. Here is how to go about it: 1. The last date to file the revised ITR for assessment year 2018-19 is March 31, 2019. 2. However, the revised return can only be filed if there is an omission or wrong statement. 3. Visit the e-filing website of Income Tax Department - https://www.incometaxindiaefiling.gov.in/home. 4. Log in with your details 5. Choose ‘Revised Return under Section 139(5)’ from the drop-down box in Part A - General Information. 6. Identify the original return with ‘Order Acknowledgment Number’ and ‘Date of filing of Original Return’. 7. A taxpayer can revise an ITR online only if he/she has filed the original retrun online and have the 15-digit acknowledgement number of the original return sent to him/her by the I-T Department. 8. Assessees can revise an ITR more than once within the deadline. However, the facility should not be misused. 9. Once the revised return is filed, the original one stands withdrawn. 10. Taxpayers must verify the revised ITR via netbanking or Aadhaar OTP (One-time Password). 11. A taxpayer can also send the physical ITR-V to Income Tax Department Centralized Processing Centre (CPC), Bangalore. If he/she has revised the return, the ITR-V of the revised return must also be sent physically. 12. The I-T Department mails you…

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You have already filed your Income Tax Return (ITR) for assessment year 2018-19 when you realize that there is a mistake in the filing.

Well, the Income Tax (I-T) Department has a provision to revise an already filed return.

Here is how to go about it:

1. The last date to file the revised ITR for assessment year 2018-19 is March 31, 2019.

2. However, the revised return can only be filed if there is an omission or wrong statement.

3. Visit the e-filing website of Income Tax Department – https://www.incometaxindiaefiling.gov.in/home.

4. Log in with your details

5. Choose ‘Revised Return under Section 139(5)’ from the drop-down box in Part A – General Information.

6. Identify the original return with ‘Order Acknowledgment Number’ and ‘Date of filing of Original Return’.

7. A taxpayer can revise an ITR online only if he/she has filed the original retrun online and have the 15-digit acknowledgement number of the original return sent to him/her by the I-T Department.

8. Assessees can revise an ITR more than once within the deadline. However, the facility should not be misused.

9. Once the revised return is filed, the original one stands withdrawn.

10. Taxpayers must verify the revised ITR via netbanking or Aadhaar OTP (One-time Password).

11. A taxpayer can also send the physical ITR-V to Income Tax Department Centralized Processing Centre (CPC), Bangalore. If he/she has revised the return, the ITR-V of the revised return must also be sent physically.

12. The I-T Department mails you ITR-V as an attachment to a taxpayer’s registered email ID after he/she successfully uploads/files the return online.

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