Answer By law4u team
Yes, you can correct mistakes in a filed Income Tax Return (ITR) in India, but the method and timing depend on the nature of the mistake and whether the ITR was filed within the due date or after it. Here’s a detailed explanation: 1. Rectification of Mistakes Through Revised Return If you filed your ITR and later realize there are mistakes, you can file a revised return under Section 139(5) of the Income Tax Act. Key points about filing a revised return: 1. Eligibility: You can file a revised return if the original ITR was filed within the due date under Section 139(1). Mistakes can include wrong income details, incorrect deductions, errors in tax computation, or mistakes in bank account or personal details. 2. Deadline for Revised Return: A revised return can be filed anytime before the end of the relevant assessment year or before completion of assessment, whichever is earlier. For example, if you filed your ITR for Financial Year 2024-25 (Assessment Year 2025-26), you can revise it up to March 31, 2026 (unless the assessment has already been completed). 3. Procedure: File the revised return online using the same ITR form as the original. Mention the acknowledgment number of the original ITR in the revised return. Ensure all details, including the corrected figures, are accurate. 4. Effect of Filing Revised Return: The revised return replaces the original return. Any excess tax paid can be claimed as refund, and shortfalls must be paid with interest if applicable. 2. Rectification Through Rectification Request If the mistake is minor or clerical, such as an error in computation by the tax department, you can request rectification under Section 154 of the Income Tax Act. Key points about rectification request: 1. Eligibility: Can be filed for errors apparent on the face of the record. Usually used when the IT Department made a mistake, such as miscalculating your tax or interest. 2. Deadline: Rectification can be requested within 4 years from the end of the financial year in which the order sought to be rectified was passed. 3. Procedure: File a rectification request online through the Income Tax e-filing portal. Specify the mistake and provide supporting documents. 3. Limitations and Important Points Cannot revise after assessment: If your ITR has already been scrutinized and fully assessed, a revised return may not be accepted. In such cases, rectification under Section 154 is the remedy. Interest and Penalty: If the correction leads to additional tax liability, interest may apply under Sections 234A, 234B, or 234C. Accuracy is Crucial: Multiple revisions are allowed, but frequent corrections may trigger scrutiny by the tax department. 4. Practical Tips 1. Verify details before revising: Check income, deductions, TDS credits, and bank account information. 2. Keep supporting documents ready: Such as Form 16, Form 26AS, or receipts for deductions claimed. 3. Use online portal features: The e-filing portal provides an option to “Submit Revised Return”, making the process seamless. 4. Track status: After revision, check if refunds or adjustments are processed correctly. 5. Key Takeaways Mistakes in a filed ITR can be corrected either by filing a revised return or requesting rectification. Revised returns are filed by the taxpayer for mistakes in their original submission, while rectification is mainly for errors made by the tax authorities. Timing and procedure depend on the type of error and the stage of assessment. Filing a revised return or rectification helps avoid penalties, claim refunds, and maintain compliance.
