Description

A mistake made at the time of filing ITR can be corrected by filing revised ITR. Section 139(5) of the I-T Act states that after filing their return if someone discovers any omission or wrong statement, he can furnish a revised return.

1. Go to the ‘e-File’ menu and Click ‘Rectification’ link.
2. Choose the options of ‘Order/Intimation to be rectified’ and ‘Assessment Year’ from the dropdown list. Click ‘Continue’
3. Select any one of the following options of ‘Request Type’ from drop down list. •

If you want to make changes after the original tax return has been filed, you must file an amended tax return using a special form called the 1040X, entering the corrected information and explaining why you are changing what was reported on your original return. You don’t have to redo your entire return, either.

So, for the financial year 2019-20, if you have to file a revised income tax return, the revised return should be filed either before completion of assessment or before 31st March 2021, whichever is earlier.

Revised return allows you to rectify the error or omission of facts made at the time of filing your original ITR. Filing a revised return simply means filing your return again but this time with the correct information. When filing a revised return, you need to mention details of the original return.