Income tax return (ITR) forms can lead to confusion if you do not calculate your income or deductions properly. So, what can you do if you make a mistake in your ITR but realise it after submitting but before verifying it? Can you skip verifying the wrong ITR and file it afresh or do you need to verify the ITR already filed and then file a revised ITR to correct the mistake?
If you want to file the unverified ITR afresh and try to upload/file a corrected ITR without verifying the first one, the income tax portal will not allow you to do so, according to Abhishek Soni, CEO, Tax2win.in. Also, even if, due to a system glitch, you are able to upload a new ITR without verifying the first one you are likely to get a notice from the tax department. If you verify the first ITR and then a new one – the new ITR will be considered as a revised ITR.
Soni says, “As per the rules, if you file an ITR but do not verify it, the tax return is not considered valid, and the tax filing process is incomplete. It’s essential to verify the ITR within 30 days of filing to avoid any penalties or consequences. If you accidentally submit an ITR without verifying it and want to revise the ITR due to any error or omission, you need to first verify the original ITR and only after this can the second ITR be filed.”
When an individual files an ITR for the first time, it is considered an original ITR. This ITR is filed under Section 139 (1) of the Income Tax Act, 1961. However, a revised ITR is filed under Section 139 (5) of the Income Tax Act. When a revised ITR is filed, an individual is required to mention the acknowledgement number of the original ITR filed and the date of filing the original ITR.
Sujit Bangar, former IRS officer and founder of Taxbuddy.com, says one cannot file another ITR without verifying the first one. The income tax e-filing portal will show an error at the time of final submission. Bangar says, “If an individual submits an ITR and discovers an error before verifying it, then one will be required to verify it. Once the original ITR is verified, then an individual can file the revised ITR to correct the mistakes made in the original ITR.”
When an individual tries to upload a fresh ITR without verifying the first ITR, the income tax department shows the error.
The last date to file the original ITR for individuals whose accounts are not required to be audited is July 31, 2023 – for FY 2022-23 (AY 2023-24). However, the last date to file a revised ITR for this period is December 31, 2023.
While an original ITR can be filed only once, there is no limit to the number of times an ITR can be revised. But tax experts advise individuals against revising ITRs unnecessarily. This can raise a query from the income tax department.Bangar adds, “An ITR filed but not verified will reflect in the income tax system. Hence, even if an individual is able to file another ITR and verifies it, the income tax department can raise a query about two ITRs filed by an individual against the same PAN.”
Hence, according to these chartered accountants, it is advisable to first verify the ITR filed originally and then file the revised ITR again to correct mistakes.