Made a mistake while filing ITR? Here's how to rectify it

 







Many taxpayers now file their income tax returns on their own. However, this often leads to complications in the income tax filing and could lead to a loss.


However, there is no reason to worry in case you have made a mistake. All you have to do is file a revised return. You can rectify all kinds of mistakes by including omission of important details, claiming a wrong deduction, wrong bank account number, and more.


As per the Income Tax Act, you will be able to file a revised ITR at any time during the assessment year or before the completion of the assessment, whichever is earlier.


It may be noted that filing a revised ITR technically means filing a new ITR with the corrections under Section 139(5) of the Income Tax Act.


Follow these simple steps
First, you need to visit the Income Tax website. On the e-filing portal, login by entering user ID (PAN) and Captcha code.
After logging in, you can proceed to click on the e-filing menu and then select the 'Income Tax Return' link.
On the next page, your PAN will be auto-populated. All you have to do is select the assessment year, ITR form number, Filing type (original or revised return) and select the submission mode as ‘Prepare and submit online’.
Follow that up by entering the acknowledgment number and mentioning the date when the original return was filed under 'date of filing’. Individuals should note that it is mandatory to enter the 15-digit acknowledgment number while filing a revised return online.
After you have completed all these steps, you should be able to fill/correct the relevant details of the online ITR form and submit it. You can e-verify the returns for faster processing and a quicker refund.





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