Income tax return filing deadline, August 31 is fast approaching. Central Board of Direct Taxes (CBDT) pushed the date from July 31 to August 31 which gave taxpayers another month to file their returns. It may be noted that any mistake in the ITR filed may result in a notice or enquiry from the Income Tax Department. Taxpayers must file their returns carefully.

In case a taxpayer makes an error while filing their income tax return, they have a chance to correct the errors and file a revised return. Only those people can file a revised return if any detail is either missing or is filled incorrectly in the form. The last date to file the revised return is March 31, 2019, for the assessment year 2018-19

A taxpayer can either revise the same ITR Form which was in the original return filed or he can file a different ITR under section 139 (5). If the second option is chosen then the original return filed under section 139(1) will be withdrawn and will be substituted by the revised return.

Here is how one can revise their ITR:

Step 1: In ITR form 'Part A General Information section', locate 'Whether Original or Revised return?' and select revised from the drop down.

Step 2: Enter the receipt number/acknowledgement number of the original return in the space provided in the form.

Step 3: Enter the date when the original return was filed.

Step 4: If you are filing the return after you received a notice from the Income-tax department then you will also have to enter Notice no. and notice u/s in the space provided.

Step 5: Fill the rest of the form as required with all the corrections.

Step 6: The process of filing the revised ITR is same as that of filing the original return which you can read

Things to remember while filing the revised return:

1. A revised return should be filed only to rectify genuine omissions or wrong statements. If the taxpayers have intentionally not disclosed any income in the original return but decided to file a revised return after a notice was issued then a scrutiny might be issued against them.

2) It is mandatory to mention the date of filing and acknowledgement number of the original ITR filed.

3) Revised return must be verified as well.