As such nowadays, many people file their ITR as per their own knowledge but this process is not easy for taxpayers. Doing the wrong way can lead to problems and could lead to a loss of money and time.
Although, if you have made a mistake then don't worry in a few conditions you can file a revised return. Taxpayers can easily recognise all kinds of mistakes while entering important bank details, claim wrong tax deductions and many more.
According to the Indian's Government income tax act, you can file a revised ITR at any time during the AY and after the completion of the assessment, which is earlier.
The most important point to be noted is that e-filing a revised tax return online means filing a fresh income tax return with all corrections u/s 139(5).
Please Follow These Simple Steps for Revised ITR
- Taxpayers, first of all, open the new ITR government portal and use the login option by entering the user ID (PAN) and filling the captcha code.
- After login, users can proceed to click the option on the e-filing button and then choose the 'income tax return' filing link.
- The PAN will be auto-populated on the next page and have to select the AY with ITR form number, and type of filing with revised return/original and the selection of submission mode which is Prepare and submit online.
- Also after inputting the acknowledgement number and giving the date of the original return which was filed under the date of filing. One should check that the acknowledgement number is important to be inserted.
- Also one should fill in the accurate online ITR form details before submitting. One must e-verify the returns for quick processing.
Another Easy Option to File Revised ITR Via Gen IT Software
The Gen income tax e-filing software is a part of Genius that is made by India's best taxation software company i.e. SAG Infotech. From this software, taxpayers can easily prepare unlimited revised income tax returns along with online PAN verification, upload e-return by using web services, and many more. Many chartered accountants and tax professionals use Gen IT software for unlimited revised returns, which is a very helpful and user-friendly tool to reduce compliance burden.