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How to file Revised Return- Latest update of Income tax.

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File Revised Return- Latest update of Income tax.

As per latest notification of Income Tax Department, Now Taxpayer file their Revised Return for the return filed manually. Therefore,It is enabling on e-filling portal. And only for the taxpayer who file their return on Paper Filed Returns.

Time limit for filling of revised return.

When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted. the same can be corrected by filing a revised return in the e-Filing portal.

A Revised Return can be filed at any time before the end of relevant Assessment Year (AY) or before the completion of assessment, whichever is earlier.

Here, we discuss the step to file the Revised Return Online. Which is as follows,

There are two ways to file revises return.

  1. Online Mode
  2. Offline Mode

Here, we discuss the step to file the Revised Return Online. Which is as follows

1.Online Mode

We should Prepare and Submit the Revised Return Online. It is Application only for ITR-1 & ITR-4 only.  Thus, we should follow the below mentioned Step.

  • Go to the Income Tax e-Filing portal, ‘www.incometaxindiaefiling.gov.in
  • Login to e-Filing portal by entering user ID (PAN), Password, Captcha code. and click ‘Login’.
  • Click on the ‘e-File’ menu and click ‘Income Tax Return’ link.
  • On Income Tax Return Page, you select the following information from the drop-down menu.
    • Your PAN will be auto-populated.
    • Select ‘Assessment Year’.
    • Select ‘ITR form Number’.
    • Select ‘Filing Type’ as ‘Original/Revised Return’.
    • Select ‘Submission Mode’ as ‘Prepare and Submit Online’.
  • In the Online ITR Form under ‘General Information’ Tab, Choose the ‘Return Filing Section’ as ‘Revised return under section 139(5)’ and ‘Return filing type’ as ‘Revised’.
  • Enter the ‘Acknowledgement Number’ and ‘Date of filing’ of the Original Return filed.
  • Note: It is mandatory to enter a 15-digit Acknowledgement Number while filing the revised return online. Hence,For the Paper Filed Original returns if the acknowledgement number received is less than 15 digits. Kindly suffix the acknowledgment number with zero.
  • Finally, Fill or correct the relevant details of the online ITR form and submit the ITR.
  • E-Verify the returns for faster processing and quicker refunds. So, Send the ITR-V through normal or speed post to “Centralized Processing Center, Income Tax Department, Bengaluru -560500”.

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2.Offline Mode

We also prepare Revised Return Offline. Normally,Offline Return can be file for all ITRs. For this, we should follow the below mentioned Step

  • Go to the Income Tax e-Filing portal, ‘www.incometaxindiaefiling.gov.in’
  • Download the Appropriate ITR utility under ‘Downloads > Offline Utilities >Income Tax Return Preparation Utilities’.
  • Extract the downloaded utility into a separate folder and Open the Utility from the extracted folder.
  • Note: Hence,It is Advisable to import the already uploaded XML of the return that requires revision. Such XMLs are available under ‘My Account’ >View> e-Filed Returns/Forms’’.
  • Likewise,Select ‘Income Tax Return’ from the drop down and click ‘Submit’. All the e-Filed ITRs are listed, click on the appropriate ‘Acknowledgement Number’ of the return uploaded and Click on the ‘XML’ link to download the same.
  • In the ITR utility, choose the ‘Section’ as ‘Revised return’ under section 139(5)’ and ‘Filing type’ as ‘Revised’.
  • Enter the ‘Acknowledgement Number’ and ‘Date of filing’ of the Original Return filed.
  • Lastly, Fill or correct the relevant details and generate the XML.
  • Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click ‘Login’.
  • Click on the ‘e-File’ menu and click ‘Income Tax Return’ link.
  • On Income Tax Return Page, you select the following information from the drop-down menu.
  • Your PAN will be auto-populated.
  • Select ‘Assessment Year’.
  • Select ‘ITR form Number’.
  • Select ‘Filing Type’ as ‘Original/Revised Return’.
  • Select ‘Submission Mode’ as ‘Upload XML’.
  • Click on ‘Continue’.
  • Upload the XML in the e-Filing portal.
  • E-Verify the returns for faster processing and quicker refunds or Send the ITR-V through normal or speed post to “Centralized Processing Center, Income Tax Department, Bengaluru — 560500”.

Note: To know the ‘Acknowledgement Number’ and ‘Date of Filing Original.

as a result, Return’ Go to ‘My Account’ View e-Filed Returns/Forms’ and Choose ‘Income Tax Returns’ from the drop down and Click ‘Submit’.

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