Do we need to e verify both original and revised returns?

If original ITR is filed and not e-verified and then Revised ITR is filed then it is not mandatory to e-verify the original ITR, but you must verify…

Can I file a revised return after my original return was processed and refund credited to my account?

If your income tax return has been processed and you have availed a refund, a revised return can be filed if it is filed within the specified due date. If the ITR form has to be changed, a revised return can be filed.

Has been processed at CPC intimation u/s 143 1?

Demand determined– it means the IT department has rejected refund and raised a demand u/s 143(1). Intimation will be received with the calculation of tax liability as per IT department either on registered email ID or through physical notice.

What happens if ITR filed twice?

Well you cannot file ITR of a PAN twice for the same assessment year. Since all the filings now are done in the electronic mode, even if you try that the system will inform you that the return has already been filed. You can file a return for the same assessment year again if the return is a revised return.

Is there any penalty for revised ITR?

ITR form can be changed while revising of return. No penalty can be levied by the department for bonafide mistakes (unintentional) If the assessing officer discovers that the error/ omission was intentional/fraudulent return revision of return is not allowed and penalty may be levied.

What will happen if I verify only the revised ITR and left the original ITR without verification?

The IT department will not accept the revised ITR if you fail to verify it. This process too is similar to the e-verification process that you might have followed for verifying your original ITR. Once e-verification is done, your revised ITR would be successfully submitted to the tax department.

Can revised return be revised?

There is no limit for the number of times you can file a revised return. Remember, every time you file a revised return, you are required to provide details of your original ITR.

Can return be revised after 143 1?

Yes, the revised return can be filed even after the issue of intimation u/s 143(1). For F.Y. 2019-20, Today is the last date for filing of ITR.

What should I do after receiving intimation u/s 143 1?

Intimation determining refund – issued where any interest or tax is found to be refundable either where no discrepancy is found in the return already filed or after making adjustments as referred to in Section 143(1) and after giving credit to the taxes and interest paid by the taxpayer.

How can I cancel my revised return?

Note:

1. Go to the ‘My Account’ menu located at upper-left side of the page ↓ Click ‘View e-Filed Returns/Forms’
2. Select ‘Rectification Status’ from drop down list Click ‘Submit’ Note: • Taxpayer can withdraw rectification within end of the day of request. •

Can we change ITR form in revised return?

The Revision can be done either in the same ITR Form in which the original return was filed or in a different ITR Form. On filing of this new return under section 139(5), the original return filed under section 139(1) shall be deemed to be withdrawn and substituted by the Revised Return.

Can we edit ITR once submitted?

When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted, the same can be corrected by filing a revised return in the e-Filing portal.

Is there a time limit to file a revised ITR?

But the time limit to file a revised ITR was reduced last year. “Starting from last year, the time limit to revise the ITR has been reduced. According to current income tax laws, you now only have time till the completion of the relevant assessment year to rectify your mistake,” adds Soni.

What to do if ITr is not processed by the Department?

What to do if ITR is not processed Once you have filed your ITR and verified it, the status of your tax return will be shown as ‘Return Submitted and verified’. However, even after a long period of time if your ITR is not processed by the tax department, then you can raise a grievance for the same. Follow the steps below to raise the grievance.

When will the Income Tax Department process the ITR for 2019-20?

Do remember that the income tax department has to process the ITR within the expiry of one year from the end of the financial year in which return was filed. Therefore, for the return filed for FY 2019-20 must be processed by March 31, 2022.”

How long does it take to get ITR after filing Form 26as?

The Central Processing Centre, Bengaluru where your tax return is processed takes normally a month’s time to process the ITR which includes matching the TDS claimed by you with that reflected in your Form 26AS, checking of arithmetical errors, tax and interest calculation and so on.