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…

Reading Time: 2 minutes

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 Once the revised return is filed, the original one stands withdrawn.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

Sreya is based in Kolkata. She is a Senior Editor of Big Wire.

Sreya is based in Kolkata. She is a Senior Editor of Big Wire.

Share
Published by
Tags: Featured

Recent Posts

The First Flag Of Independent India

On the Imphal-Ukrhul road in Manipur, one takes a detour at Finch Corner to reach Shangshak, where the Indian Army…

14 hours ago

Should You Buy a Home this Festive Season?

The festive season is considered auspicious for property purchase and Indians across many states prefer to make informed property buying…

2 weeks ago

Gandhi @ 150 and his increasing relevance in Public Policy

It was 1915. Gandhi was in Haridwar to witness the Kumbh Mela on the bank of the magnificent Ganga. But,…

3 weeks ago

“RFIS helps overcoming farming blues”

Economic viability of vegetable farming depends on the quality of saplings. However, a host of reasons that include pest attack,…

4 weeks ago

Technology in India Real Estate – from Crowdfunding to Blockchain

Technology is disrupting different industries across the world, and real estate cannot be far behind. Already, real estate consultants have…

1 month ago

What’s The Buzz About 3D Printed Domestic Flour Mills

Engineers create new tools capable of facilitating everything that has to do with the production of food from agriculture, and…

1 month ago