Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines »
Open DEMAT Account in 24 hrs
 How to file ITR as an OCI on Indian income?
 4 income tax benefits you could expect from Budget 2023
 10 key steps to plan your taxes in 2023 Income Tax
 Clarification for the purposes of clause (c) of Section 269ST of the Income-tax Act, 1961 in respect of dealership/distributorship contract in case of Co-operative Societies
 How to save income tax under various sections in FY 22-23?
 5 tax-saving techniques for FY23 Here is what experts suggest
  Tax moves to make before end of 2022 Your Money
 Income Tax Dept Exempts Non-Resident Taxpayers From Filing Form10F For Now
 Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions
 Master Direction Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directions, 2022

Here's how you can revise your income tax returns ITR 2018-19
August, 07th 2018

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 If the second option is chosen then the original return filed under section 139(1) will be withdrawn and will be substituted by the revised return.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.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting