HOW TO REVISE INCOME TAX RETURN E FILED EARLIER

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There is common question is How to revise the return where original return was e filed by the asessee . person want to know the process .We have summersied FAQ about the revision of return off income tax return.

Revision of e filed return is as simple as as filing of original return.In fact the same process nothing new . 

Time period to revise the Income Tax return. :One point you note first that revised return can be filed only if original return has been field with the due date . revised return can be filed with in one year from the end of assessment year ,but before the completion of assessment . Means for financial year 2011-12 (assessment year 2012-13) revised return can be filed latest by 31.03.2014.[section 139(5)}]

Step By step Guide to revise e filed original return.

1.Open excel file in which you have filed original return.
2. Enable macros.
3. Do the necessary correction where ever it is required .
4. Mention return as revised Return.
5. section section 139(5) from the list .
6. Fill Acknowledgement and Date of original ITR-V downloaded after e filing of original return.
7. Click compute tax again , validate on each sheet and then Generate XML file agin and upload it at income tax india efiling site after lo gin as earlier done.
8. Download revised ITR-V ,sign it .
9. Send Old and New ITR-V(both) to CPC Banglore office (address already given in itr-V)
10 that's all.

Where revision of return is not required or not advisable (our views not Govt views)

  1. You have negligible Tax refund but Bank account is Incorrect .
  2. You have negligible Tax refund but Bank MICR code is Incorrect .
  3. You have filled incorrect  Ward/Circle  Number: ward circle number in efiling is not mandatory.
  4. You have wrongly selected Govt employee category but you are psu employee: There are certain benefit available to Govt employee in taxability of perquisites /salary benefits . So no need to revise return .however on the reveres ,if you are Govt employee and wrongly selected PSU or others, then you must revise retrun.
  5. You have forget to enter 80C amount invested ,though already entered amount is more than 1,00,000.
  6. You have forget to enter 80C or other deduction but this have no effect on tax due as income is less than exemption limit .
  7. Minor error in address ,though no refund due.
  8. Minor error in fathers name .
  9. Forget to enter exempted income in sr no.26 for reporting purpose or entered less amount.
  10. Entered incorrect date /Place in verification date.
  11. Forgot to enter Unique TDS certificate number (this is not mandatory) Sr number 24(4) in itr-1
  12. Error in  name of the deductor[ sr no 23(3) & 24(3)] though TAN is correct [  sr no 23(2) & 24(2)]
  13. Email address/mobile incorrect.
Situation where you must revise Your Return.

  1. Pan Number or name is incorrect .
  2. Sex Male /female incorrect .
  3. residential status incorrect.
  4. In case of revised return original acknowledgement number incorrect .
  5. Income detail incorrect .
  6. Tan Number incorrect
  7. TDS details amount incorrect.
  8. Forget to enter saving which effects Tax liability .
  9. Incorrect bank details /Micr code where refund involved .
  10. Forgot to enter /entered incorrectly the advance tax and self assessment tax deposit details.

Common question 

Should I Send old ITR-V to Bengluru office 

Yes , You must send ITR-V of Old return (original return ) as well as of revised return to CPC office.

I Have noticed an error in ITR-V (income detailed is not entered correctly) ,should I withhold this ITR V and file fresh Income tax return through e filing ?


Do not withhold original ITR_V , Revise return is valid only if you send your orginal itr-V also. so send both the ITR-V.


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