Revised return: File to rectify errors, omissions in original ITR

Multiple revisions, while legal, can attract scrutiny, especially if the final revised return deviates significantly from the original

Filing one’s income-tax return (ITR) is a matter of utmost importance. Despite exercising diligence while filing returns, there’s always the possibility of making a mistake or inadvertently providing incorrect information. Fortunately, the Income-Tax (I-T) Department offers taxpayers a chance to rectify such errors by filing a revised return under Section 139 (5) of the I-T Act, 1961.

Says Maneet Pal Singh, partner, I.P. Pasricha & Co., “The revised return substitutes the original return.”

Who can file?

Any individual or entity that has filed an original ITR and subsequently discovers errors or omissions in the initial filing is eligible to file