ITR FY 2019-20: How to Correct Mistakes on the E-filing Portal?

Correction Guide for FY 2019-20 Income Tax Return Filing

In the second Covid 19 wave, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Return for the assessment year 2020-21.

“The filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income Tax Act, for Assessment Year 2020-21, which was required to be filed on or before March 31, 2021, may be filed on or before May 31, 2021,” CBDT said in a statement.

Implications of Extension on Taxpayer

It is an opportunity for those who had not filed the income tax returns for the FY 2019-20 yet — the aforesaid individuals shall get time to submit returns till May 31 as per the new circular.

Secondly, this circular shall be beneficial for those who had made a mistake in filing income time tax returns previously for FY20. So, If any individual has committed a mistake while filing ITR, he or she shall be able to rectify it.

It is a natural phenomenon that while we take utmost care in filing our income tax returns; however, we make the mistake at times. And Section 139(5) of the Income-Tax Act allows taxpayers to rectify their mistake by filing a revised income tax return.

Revised Income Tax Return?

If a taxpayer after filing income tax discovers any wrong statement or omission in the original income tax return (ITR), it can be rectified by filing a revised return. It should be noted that an individual has to disclose the details regarding the original return while filing the revised return.

Who Can File a Revised ITR?

Every taxpayer who has already filed an income tax return shall be allowed to rectify it.

“Generally, a revised tax return filing is pursued on account of different reasons such as wrong information furnished in ITR or not furnishing some figures in the returns. It would therefore be important for the taxpayer to maintain adequate documentation in support of the revisions carried out, just in case of a audit by the tax authorities at a later point in time,” Sudhakar Sethuraman, Partner, Deloitte India.

“However, revision can be done only by those who have filed their original tax return within the due date,” he added.

How to File a Revised ITR?

Here are the steps to follow when an individual files a revised Income Tax Return:

  • Log in to the e-filing portal
  • Thereafter, click on the option of the e-File menu and then click on the link of the Income Tax Return.
  • Then, On the income tax return Page, the Permanent AND will be auto-populated. Then, choose assessment Year’ and ITR Form number. The filing Type will be ‘Original/Revised Return’.
  • Furthermore, choose‘Submission Mode’ as ‘Prepare and Submit Online’
  • In the online ITR form under ‘General Information Tab’, choose ‘Return Filing Section’ as ‘Revised return under section 139(5)’ and ‘Return filing type’ as Revised.
  • Adding further, enter the Acknowledgement Number’ and ‘Date of Filing’ of the original return filed. And It is legally necessary to enter a 15 digit Acknowledgment Number while filing the revised return online.
  • Then Fill the relevant details and submit the ITR form.
  • It is worth mentioning that verification of Income Tax Return is mandatory after filing a revised ITR form. The income Tax department will not approve your return until and unless it is verified.

Last Date for Filing Revised ITR

An Individual can file a revised income tax return till May 31, as per the latest notification by CBDT.

“CBDT stated that it had received requests from many stakeholders for extension and clarified that they had extended the timelines considering the fact that the country is witnessing challenging times due to a severe second wave of COVID. The extension in time limit was the need of the hour and will offer much-needed relief to the return filers, with many states observing full or partial lockdowns,” said Archit Gupta, founder and chief executive officer,

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