How to rectify mistakes after filing income tax return

Mistakes after filing income tax return can be rectified by the assessee within the time limit allowed by our tax laws. In this article we will discuss how to rectify mistakes or omission and what is the time limit to correct mistakes or omissions after filing income tax return.

Here are a few mistakes that can be rectified. 

  • Incorrect personal, email ID, mobile number or bank account details.
  • Income mismatch.
  • Mismatch in tax credit taken and eligible for.
  • Missed to disclose interest income from bank deposits.
  • Filed a wrong ITR form
  • Any other things missed to disclose or incorrectly disclosed such as wrong residential status, foregin assets

Above list is not exhaustive. Therefore, any mistake or omission other than listed above can also be rectified by filing revised return under section 139(5).

Income tax laws under section 139(5) allow you to correct mistakes if any in the ITR. As per section 139(5), to rectify mistakes, the assessee has to file a revised return to replace the original ITR.

Revised return means filing the original ITR once again with all the correct details. It allows you to rectify errors or omission of facts made at the time of filing ITR.

Time limit to correct mistakes by filing revised return

Taxpayer can rectify mistakes in their ITR by filing a revised return on or before the assessment year end or before completion of assessment, whichever is earlier. For instance if you have made a mistake in the ITR filed for the financial year 2018-19 (AY 2019-20), then it can be rectified on or before 31st March 2020 or before completion of assessment, whichever is earlier.

Similarly for the financial year 2017-18, last date to correct mistakes in that year’s original ITR was 31st March 2018 or the date on which assessment is completed, whichever was earlier. Now if you want to rectify mistakes in the return of FY 2017-18, then it’s not allowed.

Please note, with effect from financial year 2016-17 (AY 2017-18), a belated return can also be revised. This means if you have filed your original return on or after the deadlines of filing, then it can be revised by rectifying the mistakes on or before the end of the assessment year or completion of assessment, whichever is earlier.

Number of limits to rectify mistakes in the ITR

Taxpayer often asks how many times I can revise my return? Can i rectify mistakes once again if I have it in the revised return?

As per section 139(5), there is no limit on the number of revised return that one can file within the time allowed. As per this section, taxpayer can furnish revised return anytime before the end of the relevant assessment year or completion of assessment, whichever is earlier. 

Assessment year is the year immediately following the previous year for which ITR is filed.

How to file revised return under section 139(5)

The process of filing revised return is not different. You have to follow the same process as followed while filing original ITR with following changes along with corrections to the mistakes;

  • 139(5)-Revised
  • Receipt number of original ITR
  • Date of filing ITR

Please note, after uploading revised return you are required to verify it either online by using e-verify option or offline by submitting a signed hard copy of the acknowledgement to the CPC bangalore.

Number of revisions in ITR may invite unnecessary questions from tax department. In order to avoid unnecessary revisions, we advise taxpayers to take precautions while filing their ITR to ensure that all the information and details provided are correct.

is a fellow member of the Institute of Chartered Accountants of India. He lives in Bhubaneswar, India. He writes about personal finance, income tax, goods and services tax (GST), company law and other topics on finance. Follow him on facebook or instagram or twitter.