Revised Income Tax Return Filing

What is a Revised Income Tax Return?

A revised return allows you to correct mistakes or update information in your original income tax return

📋 Section 139(5) of Income Tax Act
A revised return can be filed if you discover any mistake, omission, or incorrect statement in your original return. You can file it before the end of the relevant assessment year or before completion of assessment, whichever is earlier.

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Common Mistakes That Need Revision

Wrong income reported
Missed claiming deductions (80C, 80D, etc.)
Incorrect bank account details
Wrong ITR form selected
TDS/TCS details mismatch
Capital gains calculation errors
House property income mistakes
Missing income sources

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What Can Be Corrected?

Add or modify income details
Claim missed tax deductions
Correct calculation errors
Update personal information
Fix Form 26AS mismatches
Rectify exempt income entries
Correct ITR form selection
Update bank account for refund

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Time Limit for Filing

You can file revised return:

Before the end of relevant assessment year, OR
Before completion of assessment
Example: For FY 2023-24 (AY 2024-25), deadline is March 31, 2025
No limit on number of revisions
Each revision supersedes previous one

⚠️ Important Note: While filing revised return is penalty-free, if it results in additional tax liability, you may need to pay interest under Section 234A, 234B, or 234C from the original due date. Our experts help minimize interest liability.

Why Should You File a Revised Return?

Don't leave money on the table - correct your mistakes and claim what's rightfully yours

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Get Higher Refunds

Claim missed deductions like Section 80C investments, medical insurance premiums (80D), home loan interest, donations, etc. to increase your tax refund.

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Avoid Penalties & Notices

Proactively correct errors before the Income Tax Department issues notices. Self-correction shows compliance and good faith.

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Accurate Tax Records

Maintain clean and accurate tax records for future loan applications, visa processing, and financial planning.

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Compliance Assurance

Ensure full compliance with Income Tax Act and avoid complications during assessment or scrutiny proceedings.

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Reduce Tax Liability

Correct calculation errors or claim eligible exemptions to reduce your overall tax liability legally.

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Update Information

Update bank account details for refund, correct contact information, or fix address details in your return.

Our Revised Return Filing Process

Simple, fast, and hassle-free - we handle everything for you

Document Review

Share your original ITR acknowledgement, Form 26AS, and details of corrections needed. We analyze the mistakes.

Error Analysis

Our CA experts identify all errors, missed deductions, and opportunities to maximize your refund or reduce liability.

Revised Return Preparation

We prepare accurate revised return with all corrections, ensuring compliance with latest tax rules and regulations.

Your Review & Approval

We share the revised return for your review. You check and approve the details before filing.

E-Filing & Verification

We file your revised return online and complete e-verification using Aadhaar OTP, EVC, or DSC.

Acknowledgement

You receive ITR-V acknowledgement. We help track your refund status if applicable.

🎉 Average Processing Time: 3-5 working days from receipt of all documents. Urgent processing available on request!

Return Type	Description	Price
Salary Income (ITR-1)	Single salary, bank interest, standard deduction corrections	₹3,500
Multiple Salaries (ITR-1/2)	Multiple employers, house property income corrections	₹4,500
Capital Gains (ITR-2)	Share trading, property sales, mutual funds corrections	₹5,500
Business Income (ITR-3/4)	Presumptive/regular business income corrections	₹5,000+
Complex Returns	Multiple income sources, foreign assets, partnership	Custom Quote

Documents Required for Revised Return

Keep these documents ready for faster processing

📄 Original ITR Documents
Original ITR acknowledgement, filed return copy

🆔 PAN Card
Permanent Account Number (mandatory)

🏦 Form 26AS
Tax credit statement from Income Tax portal

💵 Form 16/16A
TDS certificates from employer/deductors

🏠 Aadhaar Card
For e-verification (if not using DSC)

💰 Investment Proofs
New deductions you want to claim (80C, 80D, etc.)

📊 Bank Statements
For unreported interest income or updated account details

📈 Capital Gains Docs
Share trade statements, property sale deed (if applicable)

📝 Error Details
List of mistakes you want to correct

🏢 Business Records
Books of accounts (for business income corrections)

📌 Pro Tip: Keep digital copies of all documents organized. Scan documents clearly and share via email or WhatsApp for faster processing.

Common Scenarios We Handle

Real-life situations where revised returns help

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Forgot to Claim 80C

Invested ₹1.5 lakh in PPF/ELSS but forgot to claim deduction? File revised return and save ₹46,800 tax (30% bracket)!

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Missed Health Insurance

Paid medical insurance premium but didn't claim 80D? Get deduction up to ₹25,000 (₹50,000 for senior citizens).

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Home Loan Interest Error

Incorrect home loan interest amount reported? Correct it and claim proper deduction up to ₹2 lakh under Section 24.

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Multiple Employers

Changed jobs mid-year and didn't report income from previous employer? File revised return to avoid notices.

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TDS Mismatch

TDS shown in Form 26AS but not claimed in return? Correct it and get your rightful refund.

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Wrong Bank Account

Entered wrong bank account for refund? Update it through revised return to receive your money.

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Capital Gains Calculation

Errors in share trading profits or property sale? Correct calculations and pay accurate tax.

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Wrong ITR Form

Filed ITR-1 but should have filed ITR-2? File revised return with correct form to avoid rejection.

Frequently Asked Questions

Everything you need to know about revised return filing

What is a Revised Income Tax Return? ▼

A Revised Income Tax Return (under Section 139(5) of Income Tax Act) allows taxpayers to correct errors or omissions in their original ITR. You can file a revised return if you made mistakes in income reporting, claimed wrong deductions, or missed claiming eligible deductions. It's a legal way to update your tax return without penalties.

What is the time limit to file a revised return? ▼

You can file a revised return before the end of the relevant assessment year or before the completion of assessment, whichever is earlier. For example, for FY 2023-24 (AY 2024-25), you can file revised return until March 31, 2025. There's no limit on the number of times you can revise, but each revision supersedes the previous one.

What are the charges for revised return filing? ▼

Our revised return filing services start at ₹3,500 for individuals with salary income (ITR-1) and ₹5,000 for business income returns (ITR-3/4). The exact fee depends on the complexity of corrections needed. We provide transparent pricing with no hidden charges. Contact us for a personalized quote.

Can I claim additional deductions in revised return? ▼

Yes, you can claim missed deductions like Section 80C investments, medical insurance premiums (80D), HRA, home loan interest, education loan interest, donations (80G), etc. in your revised return. This can significantly increase your tax refund. However, you cannot change the taxation regime (old vs new) or switch between presumptive and regular taxation schemes.

Is there any penalty for filing revised return? ▼

No, there is no penalty for filing a revised return within the allowed time limit under Section 139(5). However, if the revised return results in additional tax liability, you may have to pay interest under Section 234A, 234B, or 234C calculated from the original due date. Our experts help you understand and minimize any interest liability.

Can I file revised return if my original return was filed after due date? ▼

Yes, you can file a revised return even if your original return was filed after the due date (belated return under Section 139(4)). The same time limit applies - before the end of relevant assessment year or before completion of assessment. However, late filing fees and interest on tax payable will still apply from the original due date.

How long does it take to process revised return? ▼

We typically process and file revised returns within 3-5 working days from receipt of all required documents. The Income Tax Department's processing time for refunds (if applicable) is usually 2-4 weeks from successful e-verification. Urgent processing is available on request for time-sensitive cases.

What documents do I need for revised return filing? ▼

You need: Original ITR acknowledgement, PAN card, Aadhaar card, Form 26AS, Form 16/16A, investment proofs for new deductions, bank statements, details of errors to be corrected, and any additional income source documents. For business income corrections, you'll also need books of accounts and financial statements.

Can I update bank account details through revised return? ▼

Yes, you can update your bank account details for tax refund through revised return. This is particularly important if you entered wrong account number, IFSC code, or want to change the account. However, ensure the updated bank account is pre-validated on the Income Tax e-filing portal for faster refund processing.

Will revised return trigger tax scrutiny? ▼

Filing a revised return itself does not trigger scrutiny. In fact, proactively correcting errors shows good compliance. However, if the corrections involve significant changes in tax liability or income reporting, it may attract attention during normal assessment procedures. Our expert CAs ensure all corrections are properly documented and justified to minimize any concerns.

Sidhi & Associates