revised return

Inquire for REVISED RETURN !!


Revised Return Services : ITR!!

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As per provisions of Section 139(5) of the Income Tax Act, 1961, it provides that returns can be revised in the following situations:-

  • To correct the errors, that taken place in earlier return and
  • To include the detail that missed out providing earlier.

The below mentioned are the some examples for which return can be revised and rectify:-

  • To correct personal or bank details;
  • To correct the income mismatch with 26AS Form;
  • To correct ITR Form, in which return filled and
  • To include the income that missed to disclosed;
  • To claim the benefit of TDS or Advance Tax paid, if forget earlier;

Period for Return Revision

Although there is no restriction as per law for the number of times for which return can be revised but it must be within the period provided for revision.

And provision of Income Tax Act, 1961 provides that return can be revised from the AY i.e. 2018-19 up to the end of AY or completion of assessment by AO, whichever is earlier. In other words, return revision window will be available for AY 2018-19 up to 31st March, 2019 or before the assessment happens, whichever is earlier.

Consequences of filing a revised return
There are no specific consequences of filling a revised return , however a revised tax return may increase the chances of tax return being picked up for a detailed scrutiny assessment. Once a revised ITR is filed, the original or the previous return is deemed to be withdrawn. Although there is no restriction as per law for the number of times for which return can be revised but it must be within the period provided for revision and provision of Income Tax Act, 1961 provides that return can be revised from the AY i.e. 2018-19 up to the end of AY or completion of assessment by AO, whichever is earlier. In other words, return revision window will be available for AY 2018-19 up to 31st March, 2019 or before the assessment happens, whichever is earlier.

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Filling of a revised return !!

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A revised return can be filled in the similar way that to original return. The only difference being the revised return will carry the changes proposed to be made and also details of the earlier return filed i.e. date of filing of earlier return and the acknowledgement number.

  • However, the mode of revised return should be same in which the original return was filed. That means if the original return was filed electronically, the revised return too has to be filed electronically. Similarly, if the original return was filed physically, the revised return should also be filed physically.
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