Mistakenly Filed Under New Regime? Can You Revise It?
- Nimisha Panda
- Sep 17
- 9 min read
Filing an Income Tax Return (ITR) accurately is crucial to avoid penalties, notices, and delays in refunds. Mistakes in your ITR, whether due to misreported income, missed deductions, or incorrect tax calculations, can lead to complications with the Income Tax Department. The good news is that taxpayers have the option to file a revised return under Section 139(5) to correct errors or omissions in the original ITR. For FY 2024-25, understanding the revision process, timelines, and how it interacts with old and new tax regimes is essential for seamless compliance. Platforms like TaxBuddy simplify this process by providing guided assistance, ensuring that your corrections are made efficiently without missing deadlines. This guide walks you through the key aspects of revising ITR, switching tax regimes, avoiding common mistakes, and filing with confidence.
Table of Contents
Understanding Old vs New Tax Regimes
The old tax regime allows taxpayers to claim deductions and exemptions under sections like 80C, 80D, HRA, and more. In contrast, the new tax regime offers lower tax rates but restricts most deductions and exemptions. Knowing which regime your original ITR was filed under is crucial, as it determines the eligibility for deductions during revision. Taxpayers can only switch regimes under certain conditions and must carefully calculate which regime results in optimal tax savings.
What Constitutes an Error in Your ITR
Errors in an ITR can include:
Misreporting salary, business, or capital gains income
Incorrect claim of deductions or exemptions
Mistakes in TDS details or PAN/Aadhaar information
Mathematical errors or mismatches with Form 26AS
Choosing the wrong tax regime
Correcting these errors promptly ensures proper compliance and prevents refund delays or notices from the Income Tax Department.
Filing a Revised Return Under Section 139(5)
Section 139(5) allows taxpayers to file a revised return to correct mistakes in the original ITR. Key points include:
A revised return can only be filed before the end of the relevant assessment year or before completion of assessment, whichever is earlier.
Only errors or omissions identified after filing the original return can be corrected.
Multiple revisions are permitted as long as they fall within the allowed timeline.
Can You Switch Tax Regimes While Revising ITR?
Switching between old and new tax regimes is allowed during revision, but only under certain conditions:
Taxpayers who originally filed under the old regime can switch to the new regime to take advantage of lower rates.
Switching from new to old is possible if eligible deductions or exemptions were overlooked in the original filing.
Careful calculation is essential to ensure switching results in optimal tax savings.
Restrictions on Revising ITR for Tax Regime Changes
Certain restrictions apply:
Salaried individuals must ensure proper documentation for deductions claimed under the old regime.
Business taxpayers cannot change regimes arbitrarily if deductions claimed affect profit calculations.
The revised ITR must comply with the rules of the selected tax regime.
Step-by-Step Process to Revise Your ITR
Log in to the Income Tax e-filing portal or TaxBuddy platform.
Download the original ITR filing details for reference.
Identify the errors or changes required.
Select “Revised Return” under Section 139(5).
Make necessary corrections, including income, deductions, and tax regime choice.
Validate the information using the JSON utility file.
Submit the revised ITR and e-verify it via Aadhaar OTP, net banking, or other methods.
Important Deadlines for Revision (FY 2024-25)
The revised ITR can be filed before the end of the assessment year 2025-26 or before the completion of assessment, whichever is earlier.
Filing within the deadline ensures eligibility for refunds and avoids penalties.
Belated returns and revised returns cannot be combined; each has separate timelines.
How TaxBuddy Simplifies ITR Revision
TaxBuddy’s platform guides taxpayers step by step, reducing the risk of errors while revising ITR. Features include:
Automatic error detection and validation
Easy switching between old and new tax regimes
Seamless JSON file handling
Reminder notifications for deadlines
Stepwise e-verification assistance
This ensures accurate revisions without missing critical deadlines.
Practical Examples: Correcting Errors and Switching Regimes
Example 1: A salaried professional filed under the old regime but forgot to claim HRA and Section 80C deductions. Using Section 139(5), they revised the ITR and claimed the deductions to optimize tax liability.
Example 2: A freelancer initially filed under the new regime but realized that claiming Section 80D deductions would be more beneficial under the old regime. Filing a revised return allowed switching to the old regime and reduced tax payable.
Common Mistakes While Revising ITR
Revising an Income Tax Return (ITR) allows taxpayers to correct errors or update information after the original filing. However, several common mistakes often lead to delays, penalties, or processing issues. Understanding these mistakes can help taxpayers avoid complications and ensure smooth processing of refunds or compliance.
Filing After the Allowed Timeline One of the most frequent mistakes is attempting to revise an ITR after the permissible period. As per the Income Tax Act, a revised return can be filed before the end of the relevant assessment year or before completion of assessment, whichever is earlier. Filing after this period invalidates the revision, forcing taxpayers to accept errors in the original return or face scrutiny.
Incorrectly Calculating Income or Deductions Under the New Regime Taxpayers often miscalculate income, deductions, or exemptions while revising returns, especially when switching between the old and new tax regimes. Mistakes in claiming deductions under sections like 80C, 80D, or HRA exemptions can lead to mismatched tax computations and delayed refunds.
Failing to Update JSON Utility or Mismatch With Form 26AS For FY 2024–25, using the correct ITR utility is crucial. Taxpayers sometimes revise returns using outdated JSON files or fail to match their entries with Form 26AS. Discrepancies between TDS credits, reported income, and the revised return can trigger notices from the Income Tax Department and delay refund processing.
Not E-Verifying the Revised Return A revised return is incomplete until it is e-verified. Taxpayers who submit the revised ITR without e-verification risk having their return treated as invalid. Common methods for e-verification include using Aadhaar OTP, net banking, or the Income Tax Department’s ITR-V form.
Confusion Between Belated and Revised Returns Many taxpayers mistakenly file a belated return instead of a revised return. A belated return is for filing after the original due date but does not replace the previously filed return, whereas a revised return corrects mistakes in an already submitted ITR. Filing the wrong type of return can lead to unnecessary penalties or delays in processing.
Careful attention to deadlines, accurate calculations, matching with Form 26AS, and proper e-verification ensures that revisions are processed smoothly, reducing the risk of penalties and refund delays.
Tips for Avoiding ITR Filing Errors in the Future
Keep All Tax-Related Documents Organized and Updated Proper organization of tax documents is the foundation of accurate ITR filing. Maintain a dedicated folder, both physically and digitally, for Form 16,Form 26AS, investment proofs, bank statements, rent receipts, and other relevant documents. Keeping these documents updated throughout the financial year ensures that all eligible deductions, exemptions, and income sources are accounted for correctly. Organized records also make it easier to respond to any notices from the Income Tax Department and prevent missing out on eligible tax benefits.
Verify TDS Credits and Form 26AS Before Filing Before filing your ITR, it is crucial to cross-check all TDS credits and entries in Form 26AS against your salary slips, bank interest statements, and other income sources. Mismatched or missing TDS entries can lead to delays in refunds or notices from the tax department. Accurate verification ensures that the taxable income reported in the ITR matches the official records, reducing errors and avoiding potential penalties.
Choose the Tax Regime Carefully Based on Deductions and Exemptions Taxpayers have the option of choosing between the old and new tax regimes. Each regime has different rules for deductions and exemptions. Evaluate your eligible deductions under Section 80C, 80D, HRA, and others before selecting the regime. Opting for the right tax regime based on your financial situation can minimize your tax liability while ensuring compliance. Incorrect selection can result in missed deductions or higher taxes.
Use Reliable Platforms Like TaxBuddy to Reduce Errors Using trusted and secure platforms like TaxBuddy simplifies the ITR filing process and significantly reduces the chance of errors. TaxBuddy provides AI-driven features to auto-populate details, verify TDS entries, and highlight discrepancies. Both self-filing and expert-assisted plans ensure that your return is accurate, compliant, and submitted without mistakes, giving you peace of mind.
File Early to Avoid Last-Minute Mistakes and System Overload Filing your ITR well before the deadline helps avoid errors caused by rush or system overload. Last-minute filings often lead to mistakes in data entry, incomplete forms, or overlooked deductions. Early filing allows time to gather documents, cross-check TDS, and verify all entries. It also improves the chances of faster refunds since the Income Tax Department processes returns on a first-come, first-served basis.
Conclusion
Revising your ITR under Section 139(5) is an effective way to correct errors, claim missed deductions, or switch tax regimes while staying compliant. Using platforms like TaxBuddy ensures a seamless and error-free revision process, providing step-by-step guidance and automated validations. For anyone looking to simplify the revision of their ITR and ensure accurate filing, it is highly recommended todownload the TaxBuddy mobile appfor a simplified, secure, and hassle-free experience.
FAQs
Q1. Can I file multiple revised returns for the same assessment year? Yes, the Income Tax Act allows taxpayers to file more than one revised return for the same assessment year. Each revised return replaces the previous one, and the latest submission is considered final. However, ensure that the revisions are accurate to avoid repeated corrections.
Q2. Is it possible to switch tax regimes while revising my ITR? Yes, taxpayers can switch between the old and new tax regimes while filing a revised return. The revised ITR form allows selecting the preferred tax regime for that assessment year, enabling adjustments in deductions and exemptions.
Q3. What is the last date to file a revised return for FY 2024-25? For FY 2024-25 (AY 2025-26), the last date to file a revised return is December 31, 2025. Filing after this date is not permitted, and any missed corrections must be addressed in future returns or through scrutiny.
Q4. Do I need to submit supporting documents while revising my ITR? Generally, supporting documents are not submitted along with the revised return. However, it’s crucial to maintain records of income proofs, deductions, and TDS statements, as the Income Tax Department may request them in case of verification or scrutiny.
Q5. Will filing a revised return delay my tax refund? Filing a revised return can slightly delay your refund, as the Income Tax Department processes revised returns after the original submissions. Ensuring accurate details and matching TDS credits can help minimize delays.
Q6. Can TaxBuddy help in detecting errors in my original ITR? Yes, TaxBuddy offers automated checks that detect inconsistencies, missing deductions, and TDS mismatches in the original ITR. This feature helps taxpayers file an accurate revised return, reducing the risk of penalties or refund delays.
Q7. What happens if I file the revised return after the assessment year? Revised returns cannot be filed after the assessment year ends, except for specific cases like rectification requests under Section 154. Missing the timeline may result in loss of eligible refunds or deductions for that year.
Q8. How do I verify my revised ITR online? After filing a revised return, verification can be done using e-verification methods such as Aadhaar OTP, net banking, or through the ITR-V submission to CPC, Bengaluru. Verification ensures the return is accepted and processed for refunds.
Q9. Are there any penalties for revising my ITR? No direct penalty is charged for filing a revised return within the prescribed timeline. However, if the revised return results in additional tax liability, interest may apply under Section 234A, 234B, or 234C for delayed payments.
Q10. Can business owners switch regimes during revision? Yes, business owners who initially opted for the old or new tax regime can switch regimes while filing a revised return, provided they meet the eligibility criteria. This allows recalculation of taxable income, deductions, and tax liability under the chosen regime.
Q11. How does TaxBuddy simplify JSON file uploads for revisions? TaxBuddy enables seamless JSON file uploads for revised ITR filing. The platform automatically validates the file, checks for errors, and guides users through the filing process, ensuring compliance without technical complications.
Q12. Can I claim missed deductions in a revised ITR for previous years? Yes, missed deductions can be claimed in a revised ITR, as long as the revised return is filed within the prescribed deadline. This allows taxpayers to optimize their tax liability and recover eligible refunds that were missed in the original filing.
