ITR but realise it after submitting but before verifying it? Can you skip verifying the wrong ITR and file it afresh or do you need to verify the ITR already filed and then file a revised ITR to correct the mistake? If you want to file the unverified ITR afresh and try to upload/file a corrected ITR without verifying the first one, the income tax portal will not allow you to do so, according to Abhishek Soni, CEO, Tax2win.in. Also, even if, due to a system glitch, you are able to upload a new ITR without verifying the first one you are likely to get a notice from the tax department. If you verify the first ITR and then a new one — the new ITR will be considered as a revised ITR.
Soni says, «As per the rules, if you file an ITR but do not verify it, the tax return is not considered valid, and the tax filing process is incomplete. It's essential to verify the ITR within 30 days of filing to avoid any penalties or consequences. If you accidentally submit an ITR without verifying it and want to revise the ITR due to any error or omission, you need to first verify the original ITR and only after this can the second ITR be filed.» When an individual files an ITR for the first time, it is considered an original ITR.
This ITR is filed under Section 139 (1) of the Income Tax Act, 1961. However, a revised ITR is filed under Section 139 (5) of the Income Tax Act. When a revised ITR is filed, an individual is required to mention the acknowledgement number of the original ITR filed and the date of filing the original ITR.
Read more on economictimes.indiatimes.com