By Admin 
ITR Revised Return Rules: While filing income tax return, many times we choose the wrong form in haste. Many times, in a hurry, mistakes are made in filling income, bank account, deduction or other information. The good thing is that such mistakes can be corrected later. For this, the Income Tax Department provides the facility to file revised returns.
How many times can correction be done?
If you have caught any mistake after filing ITR, then you can file revised return not just once but multiple times if needed. However, every time the new revised return replaces the previous return. Therefore, before making changes next time, check all the information carefully.
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Will penalty have to be paid?
If you correct your mistake in time and file the revised return with correct information, then there is no separate penalty for filing the revised return. But if due to mistake, less tax has been deposited or income has been hidden, then interest or other action may be taken under the Income Tax Act.
What if I have filled the wrong form?
Even if you have chosen the wrong ITR form as per your income, there is no need to panic. You can fill the Revised Return with the correct form. Failure to do so may result in your return being considered defective or invalid, which may delay your refund. Not only this, a notice may also come from the tax department.
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When to file revised return?
According to the rules, taxpayers can file revised returns for assessment year 2026-27 by March 31, 2027. However, if the assessment of your case is completed before then, the revised return cannot be filed after that. Therefore, as soon as you discover the mistake, correct it as soon as possible.
Keep these things in mind before filing revised return
Before filing the revised return, please match the information entered in Form 26AS, AIS and TIS. Re-check all the information related to bank account, PAN, Aadhaar, income, TDS and deduction. This greatly reduces the chances of making a mistake again.