Income Tax: Made mistake in filing ITR? You can rectify them with a request

Income tax returns are complicated and it is often the case that a taxpayer makes a mistake at the time of filing returns. But that is not something that cannot be changed. 

With hardly two weeks in hand, taxpayers should carefully look at their ITR forms. 

However, once the income tax returns have been processed by the tax department, the taxpayer can make changes by filing a rectification request under Section 154(1).

ALSO READ: Income Tax: Section 80C to help you lower your taxable income

The following errors can be rectified by filing this request:

• Factual errors like incorrect gender
• Arithmetic mistakes in tax computation
• Additional details of capital gains not submitted

Archit Gupta, Founder & CEO ClearTax, said, "In case there is a change in the taxpayer’s income, then a rectification will not be enough. The income tax returns will have to be revised. For returns that have been e-filed online, a rectification request also has to be filed online by logging into the taxpayer’s account on the income tax department website."

ALSO READ: Income Tax: File ITR before July 31 or face penalties

Moreover, if you are filing ITR regularly, then chances of mistakes is still there because of the new changes which are applicable from this year. 

As compared to last year, this time the government announced three major changes which you need to keep in mind while filing ITR

1. A major change in the ITR forms this year is the introduction of the new single page ITR-1 form. This is an easy-to-use form that can be used by taxpayers with an income of up to Rs 50 lakh and only one house property.

ALSO READ: Income Tax: Are you eligible for tax refund? Here's how you can check after filing ITR
 
2. Another major change is the requirement of Aadhaar number or Aadhaar enrollment ID at the time of filing tax returns. It is now mandatory to mention Aadhaar in your income tax returns.
 
3. The third major change comes because of the demonetisation of Rs 500 and Rs 1,000 notes. The new ITR forms have a column where taxpayers are required to mention the details of the banks where they deposited cash if the deposited amount exceeds Rs 2 lakh during the demonetisation period.