Made an error? File your revised tax returns within stipulated timeline

While tax authorities permit you to revise your tax return in case of an error

Taxpayers are typically cautious and exercise due care while filing income tax (I-T) returns. But very often, in the rush to meet deadlines, many of them end up making errors. Some of these include not claiming deductions, not reporting losses, incorrect or total lack of reporting of income. These mistakes could occur due to lack of knowledge of the  provisions of tax laws or due to lack of accurate information at the time of filing the original return. Lawmakers are mindful of such situations and, hence, have made provisions for an opportunity to file a revised return, in case an