You can make corrections in ITR even after getting refund, know how to file revised return!

Revised ITR Filing: The Income Tax Department has become strict these days. In such a situation, while filing income tax return, taxpayers take care that they should provide correct information about their income in ITR. Many times taxpayers are not able to provide correct information about interest income from deposits in bank account or claim wrong deduction. If this has happened to you too, then you do not need to worry. Not only this, if you get less refund from the Income Tax Department, then there is also a provision to appeal against it.

Revised return can be filled under 139(5)

You can rectify your ITR again even after filing income tax return under the Income Tax Act. Under section 139(5) of the Income Tax Act, taxpayers can rectify mistakes made in ITR by filing revised income tax return. According to this law, after filing the ITR, if the taxpayer feels that he has missed declaring something or has made any mistake, then he can rectify the ITR by filing a revised return.

Processing – Revised return can be filled even after getting refund

It is a matter of relief for taxpayers that even though their income tax return has been processed, they can file revised return online under section 139(5). It may also happen that processing of ITR of a taxpayer has been done and refund has been issued to him. In such cases, even after getting the refund, the taxpayer can file a revised return to rectify the ITR.

Revised returns can be filed till December 31

Let us tell you that the revised return can be filed till the first three days before the end of the assessment year. For example, in the case of the current assessment year 2023-24, you have filed an income tax return in which some mistake has been made, then by 31 December 2023, you can file a revised ITR. Taxpayers filing belated ITR can also file revised ITR. Till 2019-20, there was a facility to file revised returns till 31st March, when the government reduced the deadline by three months and reduced it to 31st December.

What to do in case of less refund?

Suppose you have filed ITR and you get less tax refund than what you had claimed, then you have the right to appeal to the department under the Income Tax Act. If a taxpayer receives less tax refund despite TDS credit in Form 26AS, he can claim the balance tax refund by filing a Rectification Request under section 154 of the Income Tax Act. The Income Tax Department can issue outstanding refunds to taxpayers after studying their requests.

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