Filing your ITR can feel overwhelming with all the rules, sections, and details involved. Many taxpayers worry about overlooking details or making errors and sometimes, it happens despite our best efforts.
But the Income Tax Department provides multiple ways to fix mistakes in your ITR. Here’s how you can correct them:
1. Discarding your ITR
If you’ve filed your return but haven’t e-verified it yet, you can choose to discard it. This option was introduced recently and lets you cancel the return you’ve already filed.
Once discarded, it’s treated as if the return was never submitted.
After that, you’ll need to file a fresh return with the correct details and make sure to e-verify it before the due date to avoid any late filing penalties. Remember, once a return is discarded, it cannot be restored.
How to discard the ITR?
Log in to the Income Tax Portal → e-file > Income Tax Return > e-verify ITR > Discard
Read the detailed guide here.
2. Filing a revised return
If you’ve already e-verified your return but later realise that something was missed or reported incorrectly, you can file a revised return. This option is available under Section 139(5), and allows you to correct mistakes or add details that weren’t included earlier.
Every revised return replaces the original one for processing, and you can revise your return as many times as needed. The only requirement is that each revised filing must include the details of the first return you submitted.
The due date for filing a revised return is 31st December of the relevant assessment year. Once you file it, remember to e-verify within 30 days so it is considered valid.
3. Filing an updated return (ITR-U)
If you realise you made a mistake after 31st Dec, you still have the option to file an updated return (ITR-U) u/s 139(8A).
It allows you to correct omissions or mistakes up to four years from the end of the relevant assessment year. For FY 2024–25, an updated return can be filed anytime between 1st April 2026 and 31st March 2030.
ITR-U can even be filed if you missed the deadlines for the original, revised, or belated return.
However, unlike a revised return, you can’t use ITR-U to claim additional refunds or reduce your tax liability. It’s primarily for reporting any missed income and paying any additional taxes. And it comes with additional interest and penalty if you file after the end of relevant AY.
To conclude, mistakes in ITRs are not the end of the road. Whether it’s by discarding, revising, or updating your return, you need to act promptly and ensure your corrected ITR is filed and e-verified on time.
Happy return filing!