Tax Deadline Reminder: File Your Updated Return for Assessment Year 2021-2022

The Income Tax Department reminds taxpayers of the approaching deadline to file the Revised Income Tax Return (ITR) for the Assessment Year 2021-2022. 

This revised filing is applicable when a taxpayer has not filed an income tax return before or when the initial submission contains errors or omissions.

The Revised return is designed to disclose any additional income that may have been previously overlooked, requiring the payment of additional taxes.

HOW TO FILE A REVISED INCOME TAX RETURN:

1. Visit the Income Tax website and log into the Income Tax e-filing portal using your user ID (PAN) and Captcha code.

2. Click on the e-filing menu, then select the 'Income Tax Return' link.

3. Your PAN will be auto-populated on the next page. Choose a relevant AY (Assessment Year), income tax return form number, & filing type (original or revised return). Then select the submission mode as ‘Prepare and submit online.’

4. In the online ITR form under the ‘General Information’ tab, select ‘revised return’ under Section 139(5) as the 'return filing section' and 'revised' as the 'return filing' type.

5. Provide the acknowledgment number and the original return filing date. (Entering the 15-digit acknowledgment number is compulsory when filing a revised ITR).

6. Complete or rectify the relevant details in the online ITR form and proceed to submit.

7. Lastly, electronically verify the returns to expedite processing and ensure a faster refund.

Note: The last date for filing updated income tax returns: You can file updated tax returns untill March 31, 2024, to file an Updated Income Tax Return (ITR-U) AY 2021-22.

Also Read: Income Tax Rules: Understanding Specified Financial Transactions for Cash Deposits and Withdrawals
 

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