How to Correct Mistakes in ITR?
How to Correct Mistakes in ITR? https://www.fundstiger.com/itr-filing-mistakes/ While filing our income tax return (ITR) we take the utmost care not to make any mistakes. However, at times it may happen that we make a mistake while filing our ITR at the last minute. These could include mentioning the incorrect bank account number, forgetting to declare interest income, or claiming the wrong deduction. However, don’t worry if you have made a mistake in your ITR as the current income tax laws allow you to correct it. If you have discovered the mistake after filing your income tax return, then you can rectify your mistake as allowed under the current tax laws. Section 139(5) of the Income-Tax Act allows taxpayers to rectify their mistake by filing a revised income tax return. So, if you have made a mistake in your ITR, here is how you can file a revised return. What is a Revised Return? Revised return allows you to rectify the error or omission of facts made at the time of fil...