Revised Return Filings

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If you’ve already filed your original or belated return under Section 139(1) or 139(4) of the Income Tax Act, 1961, and later realise there was an error or omission — you’re eligible to file a Revised Return. Common reasons include correction of income details, missed tax deductions, forgotten disclosures, or updates to personal information. Filing a revised return is simple: just choose the ‘Revised Return’ option while e-filing your ITR and update the necessary details. The deadline to file a revised return is December 31 of the relevant assessment year, and the sooner you make the correction, the better, to avoid complications or notices from the tax department.

Belated Return Filings

If you miss the original deadline of 31st July for filing your income tax return, you can still file a Belated Return under Section 139(4) of the Income Tax Act. This can be done on or before 31st December of the relevant assessment year. While belated filing allows you to claim a refund, it may attract certain penalties. A late fee under Section 234F applies — Rs. 5,000 for those with income above Rs. 5 lakhs, and Rs. 1,000 for income below Rs. 5 lakhs.

However, if your income is below the basic exemption limit, no late fee is charged. Also, if there’s any unpaid tax, an interest of 1% per month under Section 234A will be levied. To receive any refund due, make sure your bank account is pre-validated on the income tax e-filing portal.

Updated Return (ITR-U) Filing

If you’ve missed both the original and belated return filing deadlines, you still have a chance to file your taxes through an Updated Return (ITR-U) under Section 139(8A) of the Income Tax Act. This allows taxpayers to declare any missed income or correct errors within four years (as per Budget 2025) from the end of the relevant assessment year. However, additional tax and interest may apply, and this option cannot be used to claim refunds or reduce tax liability.

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Income Tax E-Filing FAQ’s

What does e-Filing an Income Tax Return (ITR) mean?

e-Filing of Income Tax Return (ITR) is the process of submitting income tax returns online through the Income Tax Department’s e-filing portal. It is an electronic filing that prevents taxpayers from offline filing complications. It is mandatory for all individuals with taxable income to file their income tax returns (ITRs) electronically.

An Income Tax Return is a form filed with the Income Tax Department containing details of an individual’s income and taxes paid during a financial year (1st April to 31st March). The department has prescribed seven ITR forms based on income level, income source, and taxpayer category. All the ITR forms can be electronically filed in the Income Tax Department e-filing portal.

E-filing is a secure and fast method that allows taxpayers to file returns from home or office, ensuring compliance with tax laws efficiently. You can get a 10+ years experienced expert accountant from IndiaFilings to complete your return filing in minutes.

Why is it important to e-file your ITR?

E-filing your Income Tax Return (ITR) is crucial for several reasons:

Convenience and Speed: File from anywhere at any time, faster than offline methods.
Accuracy: Built-in checks reduce errors, ensuring correctness.
Quick Refunds: Get faster refunds via direct ECS credit after bank account validation.
Easy Verification: Verify returns via Aadhaar OTP, EVC, or physical signature.
Record Keeping: Maintain a digital archive of your past returns.
Compliance: Filing ensures you meet legal requirements and avoid penalties.

What are the Advantages of Income Tax e Filing?

Legal Documentation: Your income tax filing or ITR serves as an official record of your income and taxes paid, acting as crucial proof for:
- Identity Verification: It is accepted as valid identity proof by various government and financial entities.
- Income Verification: It details your financial earnings and deductions, essential for major financial transactions like buying property or applying for a loan.
Claim Tax Benefits: Income tax e filing allows you to claim tax deductions and exemptions under various sections of the Income Tax Act, effectively reducing your tax liability. So, make sure to do the ITR online and claim the benefits.
Essential for Financial Transactions: ITRs are often required for:
- Loan Applications: Banks and financial institutions typically require the last few years’ ITRs as proof of income.
- Visa Applications: Many countries require proof of financial records, such as ITRs, for visa applications to ensure the applicant’s financial stability.
Avoid Penalties: Failing to do IT return filing can result in penalties and fines, especially if you are liable to pay tax. Timely Income tax e filing helps avoid these unnecessary costs.
Carry Forward Losses: If you incur any financial losses, these can be carried forward to subsequent years to be offset against future profits. This benefit is only available if you did income tax filing.
Quick Loan and Card Approvals: Demonstrating a consistent tax record through ITR online can speed up the approval process for loans and credit cards by showcasing financial reliability and regular income.
High-Value Investments and Transactions: For transactions involving high values, such as the purchase of property or high-premium insurance, having a filed ITR is often mandatory.
Refund Claims: If you’ve paid more tax than you owe (through TDS, etc.), Income tax e filing is necessary to claim a refund. The refund process is straightforward and generally swift in efile taxes.
Compulsory If Meeting Certain Criteria: In some cases, like if your electricity bills or foreign travel expenses exceed a specified limit, ITR filing becomes mandatory regardless of your income level.

Who is eligible to file an Income Tax Return in India?

In India, eligibility to file an Income Tax Return (ITR) is generally based on the individual’s income level and residential status. Any resident individual with a taxable income exceeding the basic exemption limit must file an ITR. This includes income from salary, one house property, agricultural income (up to Rs. 5,000), and other sources like interest from savings accounts or deposits.

Additionally, Non-Resident Indians (NRIs) must file an ITR if they have income that is taxable in India, such as income from Indian sources. Filing an ITR also allows you to claim a refund of excess tax paid, which is credited to your bank account through ECS transfer after pre-validating your bank account details.

If my employer deducts TDS, do I still need to file an ITR?

Yes, TDS deduction by the employer and filing an Income Tax Return (ITR) are two separate legal obligations under the Income Tax Act. TDS ensures partial tax payment on your taxable income, but you must still file your ITR to declare total income, claim refunds (if any), and report deductions. Filing your income tax return is also essential for financial documentation, especially when applying for loans, visas, or credit cards. It serves as proof of your income and tax compliance.

What is a Nil ITR (Income Tax return), and Who Needs to File It?

Definition: A Nil ITR is an Income Tax Return filed when your total income is below the taxable limit, and no tax is payable for the financial year. While not mandatory in such cases, filing a Nil ITR offers several benefits:
TDS Refunds: If Tax Deducted at Source (TDS) has been deducted from your income (e.g., bank interest), filing a Nil ITR is essential to claim a tax refund.
Building Financial History: Regular ITR filing, even Nil returns, helps establish a documented financial record, useful for loan approvals and visa applications.
Mandatory Filing in Specific Cases: Filing is required even with no taxable income if you have foreign assets, are involved in high-value transactions, or meet other specified conditions under the Income Tax Act.
Carry Forward of Losses: To carry forward business or capital losses to future years, a Nil ITR must be filed within the due date.

How do I choose the correct ITR form for e-Filing?

Choosing the correct Income Tax Return (ITR) form is crucial for accurate and efficient e-filing. The Income Tax Department of India provides seven types of ITR forms for different categories of taxpayers based on their income sources and types. Here’s a guide to help you select the right form:

ITR-1 (Sahaj):
- Eligibility: Resident individuals with income up to Rs. 50 Lakh from salary, pension, one house property, and other sources (excluding business or profession income).
- Exclusions: Income from lottery winnings, horse racing, or capital gains.
ITR-2:
- Eligibility: Individuals and Hindu United Families (HUFs) with income exceeding Rs. 50 Lakh, or those with income from multiple house properties, capital gains, foreign assets, or agricultural income exceeding Rs. 5,000.
- Inclusions: Directors in companies, unlisted equity share investments, and foreign income.
ITR-3:
- Eligibility: Individuals and HUFs with income from business or profession, including partners in firms.
- Inclusions: Salary, pension, capital gains, and other income sources.
ITR-4 (Sugam):
- Eligibility: Resident individuals, HUFs, and firms (excluding LLPs) with income up to Rs. 50 Lakh under presumptive taxation schemes (Sections 44AD, 44ADA, 44AE).
- Exclusions: Capital gains, multiple house properties, foreign assets, or unlisted equity shares.
ITR-5, ITR-6, and ITR-7: These forms are for firms, companies, and specific entities like trusts and associations, not for individual taxpayers.

Which documents are needed for filing an Income Tax Return?

To file your Income Tax Return (ITR), essential documents include your PAN card and Aadhaar card. Along with these, the following documents are required based on your income source and eligible deductions:

Form 16: Issued by your employer, showing salary, allowances, deductions, and TDS details.
Salary Slips: Contain information like HRA, DA, TA, statutory deductions, and tax deducted.
Form 26AS: Reflects TDS, advance tax, self-assessment tax, and high-value financial transactions.
Annual Information Statement (AIS): Provides detailed financial data including savings interest, rental income, and mutual fund transactions.
Form 16A/16B/16C: Shows TDS on interest, property purchase, or rent from plant and machinery.
Interest Certificates: For income earned from savings accounts, fixed deposits, recurring deposits, or post office savings.
House Property Details: Rental receipts, landlord PAN (for HRA claim), home loan repayment certificate for claiming Section 24 and 80C deductions.
Capital Gains Documents: Sale deed (for property sales), capital gain statement from broker (for shares, mutual funds).
Profit & Loss Account and Balance Sheet: For business income, including schedules.
Other Income Proofs: Documents for dividend, family pension, freelance income, tuition fees, honorarium, or winnings from lotteries and games.
Investment Proofs: To claim deductions under Chapter VI-A such as:
- EPF, PPF contributions
- ELSS investments
- Life insurance premiums
- NPS contributions
- Health insurance premiums (Section 80D)
- Education loan interest (Section 80E)
- Children’s education expenses

Can I use ITR-1 if I have income from agriculture that is tax-exempt?

Yes, you can use ITR-1 (Sahaj) if your agricultural income is up to Rs. 5,000 and is tax-exempt. However, if your agricultural income exceeds Rs. 5,000, you must file your Income Tax Return using ITR-2, as per the Income Tax Department guidelines.

What is the process to file an Income Tax Return in India?

Can I file my ITR with or without a Form 16? How?

Yes, you can file ITR with or without a Form 16. Here’s how: Filing ITR with Form 16:

Form 16 is a TDS certificate issued by employers to their employees, detailing taxable income and deductions.
It simplifies the ITR filing process by providing a consolidated view of salary income and tax deductions.
Use Form 16 to fill in your income details and deductions in the ITR form.

Filing ITR without Form 16: You can e-file your Income Tax Return even if you do not have Form 16. Salary slips also contain the details of the deductions, which can be used in case Form 16 is unavailable. Form 26AS and AIS/TIS are mandatory documents to file Income Tax Returns. These documents provide essential information about your income and tax-related data, ensuring accurate and compliant filing.

What exactly is ITR-V?

ITR-V (Income Tax Return – Verification) is a one-page acknowledgment document generated after e-filing your income tax return when e-verification is still pending. Taxpayers can complete verification either online through methods like Aadhaar OTP, net banking, bank account, or Demat account, or offline by printing, signing, and sending the ITR-V to the Income Tax Department within 120 days from the date of e-filing. Without verification, your ITR is considered incomplete.

How can I check the status of my ITR e-Filing?

Checking the status of your Income Tax Return (ITR) e-Filing is a simple process and can be done both with and without logging into the Income Tax e-Filing Portal. Here’s how:

ITR eFiling Status – Pre-Login Check:
- Visit the Income Tax e-Filing Portal.
- Click on “View ITR Status” on the homepage.
- Enter your PAN and Acknowledgement Number along with a valid mobile number.
ITR eFiling Status – Post-Login Check:
- Log in to your account using your PAN and password.
- Navigate to “e-File” > “Income Tax Returns” > “View Filed Returns”.
- Here, you can view the status of all your filed returns, including the current year’s ITR.
Understanding ITR Status:
- Submitted and Pending for e-Verification/Verification: Your return is filed but not verified.
- Successfully e-Verified/Verified: Your return is verified but not processed yet.
- Processed: Your return has been successfully processed.
- Defective: There are discrepancies in your return; you will receive a notice to rectify these.
- Case Transferred to Assessing Officer: Your case has been sent to your jurisdictional AO for further review.

How do I get a refund if I’ve paid more tax than required?

You can claim a refund of excess tax paid by filing your Income Tax Return (ITR). The Income Tax Department will process the refund and credit the amount directly to your pre-validated bank account via ECS transfer. Ensure your bank account details are correctly pre-validated before filing the return to avoid delays.

Do I need to pay tax on winnings from the lottery or gambling?

Yes, you must pay tax on winnings from lotteries, gambling, and online games. Such income is categorised under ‘Other Sources of Income’ and is taxable at a special rate of 30%. This income does not qualify for basic exemptions or deductions such as those under Sections 80C or 80D.

Should I disclose my foreign assets during ITR filing?

Yes, failing to disclose foreign assets during Income Tax Return (ITR) filing can result in severe penalties. You may face a penalty of INR 10 lakhs for each year of non-disclosure. Non-reporting foreign assets is considered willful tax evasion and can lead to imprisonment of up to 7 years.

How do I claim deductions for donations made to charity?

To claim deductions for charitable donations, refer to Section 80G of the Income Tax Act. You can claim a deduction for donations made to eligible institutions or funds. The deduction can be up to 50% or 100% of the donated amount, depending on the specific institution or fund. Ensure that the institution or fund qualifies under Section 80G to receive the deduction.

What are the penalties and consequences of not filing an ITR in India?

Failure to file an Income Tax Return (ITR) in India by the due date can lead to serious consequences under the Income Tax Act. The taxpayer may face a late filing fee of up to ?10,000 under Section 234F, depending on the delay. For ITRs filed after the due date but before December 31st of the relevant assessment year, the penalty is ?5,000, which increases to ?10,000 thereafter.

Additionally, interest at 1% per month under Section 234A is levied on any outstanding tax liability from the due date until payment. Non-filing or belated filing of ITR can also result in loss of benefits, such as the inability to carry forward losses or claim TDS refunds.

In cases of willful non-compliance, prosecution under Section 276CC may be initiated, which can lead to imprisonment and/or fine. Therefore, timely filing of ITR is crucial to avoid penalties, interest, and legal consequences.

What should I do if I miss the ITR filing due date?

If you miss the due date for filing your Income Tax Return (ITR), you can still file a belated return under Section 139(4) of the Income Tax Act. A belated ITR can be filed by 31st December of the relevant assessment year, unless the government extends the deadline.

However, filing a belated return attracts a late filing fee under Section 234F, which may go up to ?10,000 depending on your total income and the delay. It is important to note that certain benefits, such as carrying forward losses, may not be available if you file a belated return.

What are the Common Mistakes that occur while e-filing Income Tax?

Your e Filing of Income Tax Return (ITR) in India, several common mistakes can complicate the process or even lead to penalties. Being aware of these pitfalls can help ensure a smooth ITR e filing experience:

Choosing the Wrong Tax Form: Different ITR forms cater to various income sources and taxpayer statuses. It’s crucial to select the correct income tax return form based on your income types, as specified on the Income Tax Department’s website.
Incorrect PAN or Personal Information: Errors in entering your PAN, name, address, or date of birth can lead to the rejection or delayed processing of your tax return.
Incorrect Bank Account Details: Providing wrong bank details can delay your ITR refund. Make sure to accurately enter your bank account number, IFSC code, and other relevant information.
Not Claiming All Eligible Deductions: Many taxpayers miss out on reducing their tax liabilities by not claiming all eligible deductions for savings, investments, and certain expenses allowed under The Income Tax Act 1961.
Failing to Disclose All Income Sources: All income earned during the year must be disclosed. Failure to report all income sources can lead to penalties and is considered tax evasion.
Not E-verifying the Return: After filing your ITR, it must be verified electronically within the prescribed time limit. An unverified return is treated as if it has not been filed at all.
Filing After the Deadline: Late submissions can incur penalties and fines. It’s important to file your return before the ITR filing last date to avoid these additional costs.
Omitting Capital Gains from Mutual Funds: Both long-term and short-term capital gains from mutual funds are taxable. Ensure these gains are reported correctly to avoid issues with the tax authorities.

Is it necessary to attach any documents along with the return of income?

No, you do not need to attach any physical documents, proofs, or supporting papers when filing your income tax return online. However, you must provide accurate details, including your Aadhaar number, and keep all relevant documents (like Form 16, salary slips, Form 26AS, AIS) handy for reference and future verification if required by the Income Tax Department.

If I have paid excess tax, how will it be refunded to me?

If you have paid more tax than your actual liability (via TDS, TCS, advance tax, or self-assessment tax), the excess amount will be refunded directly to your pre-validated bank account after you file and e-verify your ITR. Refunds are typically processed within 4-5 weeks of e-verification, provided your bank account is correctly linked with your PAN and pre-validated. If you do not receive your refund in this timeframe, check for discrepancies in your ITR or notifications from the IT Department, and track your refund status on the e-filing portal.

Is it necessary to file a return of income when I don’t have any positive income?

Filing an ITR is mandatory if your gross total income exceeds the basic exemption limit—Rs. 2.5 lakh under the old regime and Rs. 4 lakh under the new regime—even if your final tax liability is zero due to deductions or rebates. Filing is also recommended for those with no tax liability, as it helps maintain a clean financial record and can be beneficial for loan applications, visa processing, and other financial transactions.

Is it mandatory for me to do the ITR e-filing or can someone else do it on my behalf?

You can authorize another individual to file your ITR on your behalf if you are unable to do so yourself. This is common for non-residents, minors, individuals with disabilities, or in case of legal incapacity. The authorized person must be registered as a ‘representative assessee’ on the Income Tax portal, following the required process and documentation. Once approved, your representative can file and verify your ITR on your behalf.

How much are the Income Tax E-Filing Prices?

The cost of income tax e-filing varies based on several factors, including the complexity of your income, the number of Form 16s, and whether you have capital gains or foreign income. For precise pricing tailored to your needs, contact IndiaFilings experts to ensure seamless ITR filing and compliance.

What are the benefits of Expert-Assisted ITR Filing?

Expert-assisted ITR filing offers numerous benefits:

Error Reduction: Minimizes errors in your ITR, ensuring compliance and avoiding potential penalties.
Time-Saving: Saves you time and effort by handling complex tax calculations and paperwork.
Maximized Refunds: Helps maximize your tax refunds by identifying all eligible deductions and credits.
Stress-Free Process: Provides a stress-free experience, especially for those with multiple income sources or complex financial situations.
Professional Guidance: Offers expert advice on tax-saving strategies and compliance requirements.
Notice Management: Assists in managing any notices received from the tax department, ensuring timely resolution.

Get all these benefits from the IndiaFilings Expert-powered Income tax return filing service.

Who can file a tax return through IndiaFilings?

IndiaFilings offers tailored Income Tax Return (ITR) filing services for a wide range of taxpayers, regardless of their income source. Whether you’re a salaried individual, freelancer, self-employed professional, business owner, or NRI, IndiaFilings has a filing solution for you.

Salaried individuals with single or multiple Form 16s
Self-employed professionals like doctors, consultants, designers, and freelancers
Businesses and MSMEs using Tally or other ERP software
Taxpayers with foreign income, foreign assets, or classified as NRI/RNOR
Individuals with capital gains from stocks, mutual funds, crypto, or F&O trading
HUFs (Hindu Undivided Families) needing specialized ITR filing
Those needing to file belated ITRs after the deadline or revised ITRs for corrections

With IndiaFilings, every type of taxpayer can easily e-file their ITR online with expert assistance.

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