Revised and Updated ITR Filing in India

Correct Your Past Income Tax Returns and Stay Fully Compliant with Expert Help from Rajasthan Filings

Filing your Income Tax Return (ITR) accurately and on time is the duty of every taxpayer. However, mistakes sometimes happen — an income source might be missed, a deduction left out, or a TDS not reflected properly. The Income-tax Department allows such taxpayers to rectify their previously filed returns by filing a Revised ITR or an Updated ITR (ITR-U), depending on the nature and timing of the correction.

At Rajasthan Filings, we assist individuals, professionals, and businesses in reviewing, correcting, and refiling their returns seamlessly, ensuring that all details align with AIS, TIS, and 26AS data while maintaining full legal compliance.

1. Understanding Revised and Updated Returns

Revised ITR – Section 139(5) of the Income-tax Act
If a taxpayer discovers any error or omission in the original ITR, they can file a revised return before the end of the relevant assessment year or before the completion of assessment, whichever is earlier.

Updated ITR (ITR-U) – Section 139(8A) of the Act
Introduced by the Finance Act, 2022, this provision allows taxpayers to voluntarily update previously missed income or correct old returns up to two years after the end of the relevant assessment year, even if no revised return was filed earlier.

2. Difference Between Revised and Updated ITR

3. Common Reasons for Filing a Revised ITR

• Omission of interest income from banks or FDs

• Missed salary from multiple employers

• TDS mismatch with Form 26AS or AIS

• Missed deductions under Chapter VI-A (80C, 80D, etc.)

• Correction in personal details or bank account

• Wrong regime selection (old vs. new)

• Incorrectly shown losses or carry-forwards

Filing a correct revised return prevents future notices, penalties, or mismatch warnings from CPC or the Income-tax Department.

4. Common Reasons for Filing an Updated ITR (ITR-U)

• Disclosure of previously unreported business or professional income

• Missed capital gains or rental income

• Adjustment after receiving AIS/TIS mismatch intimation

• Non-filing of ITR in earlier years despite taxable income

• Voluntary correction to avoid scrutiny and penalties

5. Time Limits for Filing

Timely filing ensures the return is processed without additional interest or penalties.

6. Additional Tax Under Updated ITR

To discourage misuse, Section 140B prescribes an additional tax on filing ITR-U:

This additional payment ensures fair compliance and encourages voluntary disclosure.

7. Cases Where Updated ITR Cannot Be Filed

You cannot file ITR-U if:

• The updated return results in a loss or reduces tax liability.

• It claims or increases a refund.

• It is filed after a search or survey action by the department.

• Proceedings under Section 132 / 133A / 148A are pending.

• Prosecution has been initiated for the same year.

8. Documents Required

• Copy of original ITR acknowledgment

• Form 16 / Salary slips

• Form 26AS / AIS / TIS report

• Bank statements

• Investment proofs (80C, 80D, 80G, etc.)

• Interest income certificates

• Business books of account (if applicable)

9. Step-by-Step Process

1. Review of Existing Data: Reconcile your ITR with AIS, TIS, and 26AS.

2. Identify Omissions or Errors: Check for missing income, deductions, or wrong heads.

3. Prepare Corrected Return: Amend or update income details under correct heads.

4. Compute Tax Payable: Include late fees, interest, and additional tax (if ITR-U).

5. File Revised / Updated ITR: Upload via the Income Tax Portal with digital signature or EVC.

6. Verify Return: Complete verification within 30 days.

10. Importance of Filing Revised or Updated ITR

• Prevents tax notices and scrutiny under Sections 143(2) / 148

• Corrects errors before assessment or audit

• Reflects transparency and voluntary compliance

• Aligns your tax records with digital data (AIS / PAN / TDS)

• Protects credit score and loan eligibility

• Demonstrates credibility for visa and tender applications

11. Penalty for Non-Compliance

Voluntary correction through a revised or updated return helps avoid such penalties.

12. Why Choose Rajasthan Filings

• Expert review of previously filed ITRs and AIS data

• Identification of mismatches or missed income

• Accurate computation of revised or updated liability

• Filing and verification under Section 139(5) or 139(8A)

• Guidance on penalty and additional tax implications

• Professional handling of CPC / AO correspondence

• End-to-end support till acknowledgment is successfully processed

Rajasthan Filings ensures your tax compliance stays accurate, updated, and legally sound — whether it’s correction for the last year or a missed filing from two years ago.

13. Conclusion

Mistakes in tax returns are common, but ignoring them can lead to notices, penalties, and future scrutiny. The facility to file Revised and Updated ITRs allows taxpayers to correct errors, disclose income voluntarily, and maintain a clean tax record.

With Rajasthan Filings’ expert guidance, every correction becomes smooth, lawful, and stress-free — safeguarding you from compliance risks and building long-term trust with tax authorities.