Filing an error-free income tax return is not an easy task, especially for people who are filing it for the first time. There is always the possibility of an unintentional error or omission of details creeping into it.
"As per the law as it stands today, from the Assessment Year (AY) 2018-19, a return of income filed within the due date i.e. the original return of income (31st August for this year) or a return filed after the due date called the belated return, can be revised if a taxpayer discovers any omission or wrong statement in the return filed," Archit Gupta, founder & CEO of ClearTax wrote in an article for Business Standard.
The revision has to be done before the end of the financial year for which return was filed, i.e., 31st March 2019 for AY2018-19.
How you can revise your ITR
Step 1: Visit www.incometaxindiaefiling.gov.in
Step 2: Login with your credentials
Step 3: Select 'Income Tax Return' under the e-File tab
Step 4: Next, select the assessment year, ITR form name and the submission mode. Select relevant options in 'Field/Schedule' and 'verify your income tax'
Step 5: Fill the asked details in 'Part A General Information' and select the 'Revised' option when asked 'Whether original or revised return?'
Step 6: Mention asked details in all the tabs along with the ones you had missed earlier or had entered wrong information.
Step 7: Click on ‘Preview & Submit’
Step 8: E-verify your revised return
Although there is no restriction on the number of times a return can be revised, multiple revisions may attract the attention of the income tax authorities.