How to Rectify Incorrect ITR e-filing of AY 2018-19 and Pay Your Liability Tax Amount

Do you need to rectify an incorrect ITR (Income Tax Return) e-filing for the Assessment Year (AY) 2018-19? Filing a revised return allows you to correct any mistakes and ensure that your taxes are accurately paid. This guide will walk you through the process, along with the necessary steps to pay any tax liabilities.

Understanding the Process of Filing a Revised Return

What is a Revised Return?

A revised return is an amendment to the originally filed ITR, which corrects any inaccuracies or errors. It replaces the original return and serves as the updated version of your filing. Once the revised return is filed, you no longer have the option to modify it.

When Can You File a Revised Return?

Revised returns can be filed under Section 139(5) of the Income Tax Act. For AY 2018-19, you must file the revised return before the end of the relevant assessment year (31st March 2019). If the relevant assessment year has already concluded, you will not be able to file a revised return.

Steps to File a Revised Return

Step 1: Revisit the Original Return

Start by examining the details of your original return to understand where the mistakes occurred. This will help you fill in the revised return accurately.

Step 2: Navigate to eFiling Portal

Log in to the eFiling portal and follow the same process as when you filed the original return. However, instead of selecting the original return, choose the option for a revised return under Section 139(5).

Step 3: Fill in the Correct Details

In the Part A General section, go to the last section and select Revised return under Section 139(5). Enter your original acknowledgment number and date. Fill in the detailed income information, ensuring it is correct and free of errors.

Step 4: Compute and Pay Any Owing Taxes

Go to the Computation of Tax tab and make the necessary corrections. If you owe any tax cesos and interest, they will be displayed. You can choose to pay these amounts through the ePay option. Ensure you pay through net banking or debit card; credit cards are not accepted.

Once the payments are made, print the challan and note down the BSR number, challan number, and the date of transaction.

Step 5: Update Tax Details and Submit

Go to the Tax Details section and fill in the information under Advance Tax / Self-assessment Tax. Save your changes, and then go to the Tax Paid and Verification tab. Ensure that the tax payable or refundable amount is zero. Verify and submit your revised return. Finally, e-verify your return as you did for the original return.

Conclusion

By carefully following these steps, you can rectify any mistakes in your originally filed ITR and ensure that your tax liability is accurately paid. Remember, the revised return is a critical step in maintaining the integrity of your tax filings and avoiding any future complications.

Good luck!