Income tax Return Revision/ Rectification

You should consider revising your income tax return if you discover errors or omissions in your original filing, receive additional tax documents after filing, experience changes in your financial circumstances, or are notified of discrepancies by tax authorities.

You can revise your income tax return by logging in to the Income Tax e-filing portal, selecting the option for revised return filing, providing original return details, making necessary changes, generating an XML file of the revised return, uploading the XML file, verifying and submitting the revised return electronically, and receiving acknowledgment of successful submission.

Yes, you can revise your income tax return multiple times within the prescribed time limit, typically before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

You can make changes to your income, deductions, taxes paid, and any other relevant information that needs correction or revision.

No, there is no fee for revising your income tax return. However, penalties may apply if revisions lead to additional tax liabilities.

The processing time for a revised income tax return varies depending on factors such as the complexity of the revision and the workload of the tax authorities. Typically, it may take several weeks to months for the revised return to be processed.

Revising your income tax return does not necessarily trigger an audit. However, if discrepancies are identified during the revision process or if your revised return raises red flags, tax authorities may initiate an audit to verify the accuracy of your tax filings.

Yes, you can still revise your income tax return even if you've already received a tax refund. However, if the revision results in a decrease in your refund amount or an additional tax liability, you may be required to repay the excess refund amount.