Revised ITR online: Taxpayers can make corrections on their original tax returns by filing a revised return under Section 139(5) of the Income-Tax Act of 1961. This return will be used to amend incorrectly reported deductions or exemptions, as well as inaccurate income declaration. When you receive a notice from the department requesting a higher tax claim, you must file a revised return. The initial ITR is discarded if you amend your income tax return. Corrections, unlike changes, can be made only after receiving notification from the I-T Department’s Central Processing Centre (CPC).

This directive is usually issued anytime the department finds an inconsistency or when the taxpayer files a correction request. You can’t seek additional exemptions or deductions or disclose new income during rectification. Only the return revision should be used to make these adjustments.

What is a revised income tax return?

If a taxpayer discovers any omission or any wrong statement in the original income tax return (ITR), it can be corrected by filing a revised return. It must be noted that an individual has to mention the details of the original return while filing the revised return.

Who can file a revised ITR?

Every taxpayer who has filed income tax return is permitted to revise or correct it. “Generally, a revised tax return filing is pursued on account of different reasons such as wrong information furnished in ITR or not furnishing some figures in the returns. It would therefore be important for the tax payer to maintain adequate documentation in support of the revisions carried out, just in case of a audit by the tax authorities at a later point in time,” Sudhakar Sethuraman, Partner, Deloitte India.

Step 1:

Go to the ClearTax account login page and login to your account.revised return

Step 2:

Once you’ve logged in, go to the ‘My Tax Returns’ option under ‘My Account.’revised return

Step 3:

From the list of tax returns, click on start filing on the return you want to revise. Remember, you can only revise the returns that have already been filed.revised return 

Step 4:

Choose an option based on whether or not you have Form 16.revised return

Step 5:

Once you’re on the returns page, click on ‘Advanced Options’ under ‘My Account.’revised return 

Step 6:

A pop-up screen will appear. Click on ‘Advanced Options.’revised return

Step 7:

The first option you will see is – ‘Directly Revise The Tax Return.’ Click on it.revised return

Step 8:

Enter the date on which the return was originally filed and the acknowledgment number to begin revising your tax return.Enter the date on which the return was originally filed and the acknowledgment number to begin revising your tax return.These details can be obtained from the of the original income tax return filed.  8 revised return

Step 9:

Now enter all the details of your income and personal information in the appropriate fields, and file your revised income tax return.