Made a mistake in your ITR? Fix it before it's too late & you can do it more than once!
By Lavanya Mallidi, ET Online |
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Made a mistake in your ITR? Here's the good news
Filing errors are more common than you think, wrong income figures, missed deductions, or incorrect bank details. The Income Tax Department actually lets you fix these mistakes through a Revised Return.
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Meet Section 139(5): Your second chance
This section allows you to file a Revised Return if you spot an error or omission after submitting your original ITR. Once filed, it completely replaces the original — but it's meant for genuine mistakes, not tax evasion.
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The most common ITR mistakes
1.Wrong income details
2.Missed bank interest income
3.Skipped deductions (80C, 80D, etc.)
4.Wrong ITR form selected
5.TDS mismatch with Form 26AS
6.Incorrect bank account for refund
2.Missed bank interest income
3.Skipped deductions (80C, 80D, etc.)
4.Wrong ITR form selected
5.TDS mismatch with Form 26AS
6.Incorrect bank account for refund
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Know your deadlines
Revised Return: Currently due by 31 December of the Assessment Year, extended to 31 March under Budget 2026. Missed that too? You can still file an Updated Return (ITR-U) within 48 months -with extra tax and interest.
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How to file a revised return; step by step
1.Log in to the e-filing portal
2.Select the assessment year
3.Choose "Revised Return" under Section 139(5)
4.Enter your original ITR acknowledgement number
5.Correct the mistakes
6.Submit and e-verify
2.Select the assessment year
3.Choose "Revised Return" under Section 139(5)
4.Enter your original ITR acknowledgement number
5.Correct the mistakes
6.Submit and e-verify
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Revised return vs Rectification: Not the same!
A Revised Return (Section 139(5)) is filed by you to fix your own errors. A Rectification (Section 154) fixes mistakes made by the tax department, usually after an intimation notice. Don't confuse the two.
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What if you ignore the mistake?
Delayed refunds, interest on unpaid tax, notices, penalties, and even scrutiny, small errors can snowball fast. In serious cases of incorrect income declaration, it could even lead to prosecution.
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No limit on revisions; but get it right
You can revise your ITR as many times as needed, as long as it's within the deadline. Each new revision replaces the last. Still, aim to get it right the first time — frequent revisions can raise red flags.