File revised or updated income tax return to correct errors or omissions. ITR-U allows correction within 24 months of assessment year end with additional tax payment.
Revised Return under Section 139(5) can be filed before assessment if error is discovered. Updated Return (ITR-U) under Section 139(8A) allows filing within 24 months of AY end (with 25-50% additional tax). ITR-U is useful for reporting omitted income, correcting major errors, or voluntary compliance before notice.
Identify discrepancy and determine form
Calculate additional tax (if ITR-U)
Prepare revised/updated return
E-file with tax payment
Timeline: 3-5 Days
*Govt fees extra where applicable