Made a mistake in your filed income tax return? Check the revised ITR filing last date, what are the charges
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Many things can go wrong when filing your taxes, such as inputting the incorrect bank account number, claiming the improper deduction, or incorrectly declaring interest income. The Income Tax Department for such cases offers an option to file revised Income Tax return (ITR). The original ITR will be replaced by the revised return, which will be deemed offered on the date of the previous filing.
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What is a revised ITR?
If a taxpayer makes a mistake when reporting their ITR, they can file revised income tax returns under Section 139(5) of the Income-tax Act, 1961.
A person may file a revised tax return in accordance with Section 139(5) if, after filing, they find an error or omission on their tax return.
What is the charge for filing revised ITR?
There are no penalties or charges for filing a revised income tax return.
What is the last date to file revised tax returns
According to section 139(5) the last date to file a revised ITR for FY 2023-24 (assessment year 2024-25) is December 31, 2024, or before the completion of the assessment, whichever is earlier.
Who can file a revised ITR?
Under Section 139(5) of the Income-tax Act of 1961, any assessee who has filed an ITR can revise it in order to furnish the tax department with accurate information. Even
