How many times ITR can be revised?

Wondering how many times ITR can be revised? In India, Income Tax Returns (ITRs) can be revised if there are errors or omissions in the original return filed. The number of times an ITR can be revised and the time limit within which revisions can be made are governed by the Income Tax Act. 

How Many Times We Can File Revised Return?

Here’s how it works:

Multiple Revisions: As per current tax laws, you can revise your ITR multiple times if needed. There is no specific limit on the number of times you can revise your return.

Conditions for Revision:

The option to revise a return is available if you discover any mistakes in your original filing, such as incorrect income details, deductions, or tax calculations.

Revision can also be done to include any income that was missed out in the original filing.

Within One Year: You can file a revised return before the end of one year from the end of the relevant assessment year or before the completion of assessment by the Income Tax Department, whichever is earlier.

For example, for the assessment year 2023-24 (financial year 2022-23), you can revise your return by March 31, 2025, or before the completion of assessment, whichever is earlier.

Process to File Revised Return:

To revise your return, use the same form (ITR form) that was used for filing the original return.

Select the option 'Revised Return under Section 139(5)' in the form to indicate that it is a revised return.

Like the original return, the revised return also needs to be verified. It can be verified electronically using Aadhaar OTP, net banking, or EVC, or by sending a signed ITR-V to CPC Bengaluru.

Ensure all corrections are accurate and supported by relevant documents to avoid complications during the assessment process.

The flexibility to revise your ITR multiple times within the specified time limit allows taxpayers to rectify mistakes and ensure accurate reporting of income and tax liabilities. This is how many times ITR can be revised.

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Filing ITR can be tricky. Even if we file our ITR very diligently, at times a slight error in the ITR form can change everything. Mistakes such as incorrect deductions, and declaring interest income are very common. The IT department understands that things can go wrong, so they have provided us with an opportunity to file revised income tax returns. Let me share with you what is revised returns, how many times ITR can be revised, what is due to file revised returns. 

As per Section 139 of the Income Tax Act, taxpayers can file their returns again if they see any mistakes in the returns. Filing a return once again with correct information is known as a revised return. 

Earlier the due date to file revised returns was one year from the end of the relevant assessment year. So, a taxpayer was given two years from the date of the financial year to file revised returns.

But as of now, you can file revised returns until the end of the relevant year of assessment. So, if you file returns for  FY 2019-20, you can file revised returns up to 31st March 2021.

You can revise and file your returns as many times as you want. There is no limit as such. But while making the correction you need to show complete details of the original ITR every time you file a revised return.

To revise your ITR, go to the official website of ITR and click on “Return filed under” column, and select “17-Revised u/s 139(5)”.

I hope you know how many times ITR can be revised now.

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