ITR Filing Season 2025: How many times can you revise your income tax return? Check inside

Because the income tax return (ITR) submitting season is occurring, taxpayers have both filed their ITR or are getting ready paperwork to do it. To file the ITR for FY 2024-25, solely 45 days are left, because the final date is September 15. Nevertheless, there’s are possibilities that you may need made a mistake whereas submitting your return. However, you can revise your ITR below Part 139(5) of the Income Tax Act, 1961. You can refile your ITR for errors like misreported income, missed deductions, or incorrect tax calculations. 

The return must be revised inside the prescribed time restrict. It can be revised any time three months earlier than the tip of the evaluation yr or earlier than the completion of the evaluation, whichever is earlier, in response to the Income Tax Division’s official web site.

Notably, if the unique return was filed in paper format or manually, then technically it can’t be revised in on-line mode or electronically. ​​​

What’s the final date to file a revised return?

The deadline to file a revised ITR for FY25 is December 31, 2025, of the evaluation yr or earlier than the completion of the evaluation by income tax authorities, whichever is earlier. You can revise your ITR even when your unique ITR has been processed by the Income Tax Division. 

Is there any penalty for a revised ITR?

You need not pay a penalty if you have filed your ITR earlier than the due date and likewise e-verified it inside 30 days. Nevertheless, if you have crossed the deadline, then the I-T Division will deal with it as a belated ITR and you should pay a price below Part 234F.

If the ITR wasn’t filed by the due date, the return might be handled as a belated tax return, and the taxpayer might be levied late charges below Part 234F.

What ought to you be mindful whereas submitting a revised ITR?

• A revised return could also be submitted if the ITR e-filing kind must be modified.
• There isn’t a cap on the variety of times you can file an amended tax return, so you can achieve this as usually as you like.
• If you have acquired a refund after your income tax return has been processed, you can file a revised return so long as you do it by the deadline.
• If you have filed your ITR below the outdated tax regime, then you can file a revised return below the outdated or the brand new regime, but when you initially filed it below the brand new tax regime, then you can not change it to the outdated regime whereas submitting a revised ITR.

Who can file a revised ITR?

– People
– Firms, partnerships, Hindu Undivided Households