Filing your income-tax return (ITR) on time is essential — but mistakes happen.
Whether it’s missed income, incorrect deductions or a simple data entry error, the Income Tax Department gives every taxpayer a chance to correct these mistakes by filing a revised I-T return.
A revised return is simply a corrected version of the original return you filed.
The key advantage? You can file it till December 31 of the assessment year, giving you months of additional time to fix any errors.
Why the Revised Return Matters
Many taxpayers discover mistakes after filing their ITR — especially when reconciling Form 26AS, AIS, TIS, bank statements or employer data.
Instead of worrying about penalties or notices, the law allows you to revise your return to ensure accurate tax filing.
Common mistakes that require a revised return include:
Wrong income details
Missed interest income
Deduction not claimed (80C, 80D, 80G, etc.)
Incorrect bank account selected for refund
Wrong personal details
Mismatch in TDS or tax credits
Incorrect disclosure of capital gains
A revised return protects you from scrutiny and ensures your tax record stays clean.
Deadline to File the Revised ITR: December 31
You can file the revised return till the end of the calendar year of the assessment year.
For example:
FY 2023–24 (AY 2024–25)
Original ITR deadline: July 31, 2024
Last date to revise the return: December 31, 2024
This gives taxpayers enough time to:
Recheck documents
Match TDS with Form 26AS
Correct missed or wrong entries
Update income details if mistakes surface later
How to File a Revised I-T Return
Filing a revised return is simple and similar to filing the original ITR.
Here’s how it works:
1. Log in to the Income Tax portal
Enter your PAN and password.
2. Choose the correct Assessment Year
Select the year for which you want to revise the return.
3. Select ‘Revised Return’ option
While filing, choose ‘Revised u/s 139(5)’.
4. Enter the original ITR acknowledgement number
The system will ask for the 15-digit number of your original filed return.
5. Correct the errors and submit
Update all details carefully.
Once submitted, the revised return replaces the original.
You can revise your return multiple times before the December 31 deadline.
Who Should Consider Filing a Revised ITR?
You should revise your return if you notice:
Misreported income
New income disclosure (like interest or dividends)
Wrong deduction claims
TDS mismatch
Bank account error
Capital gains miscalculated
Missed foreign asset reporting
A revised return helps you avoid notices, penalties and delays in refunds.
Benefits of Filing a Revised Return
Corrects your tax records
Prevents penalty or scrutiny notices
Helps receive accurate refunds
Avoids legal complications
Reflects clean financial compliance
In short, revising your return keeps your tax history transparent and accurate.
Conclusion
A revised I-T return is an important tool that empowers taxpayers to correct mistakes without stress or penalty — as long as it’s filed before December 31 of the assessment year.
Whether you’ve missed income, miscalculated deductions or made an accidental error, revising your ITR ensures that your tax filings remain authentic, compliant and up to date.
If you’ve spotted an issue in your already-filed return, don’t wait — revise it before the year ends.
FAQs
Q1. What is a revised I-T return?
A: A corrected version of your original income-tax return filed to fix errors under Section 139(5).
Q2. What is the last date to file a revised ITR?
A: December 31 of the assessment year.
Q3. Can I revise my return more than once?
A: Yes, you can revise it multiple times before the deadline.
Q4. Is there a penalty for revising an ITR?
A: No penalty if filed before December 31.
Q5. What mistakes can a revised return fix?
A: Income errors, missed deductions, incorrect bank details, TDS mismatches and more.
Published on : 13th November
Published by : SMITA
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