Revised Income Tax Return

VIKAS SINGHAL 186
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Sir,

I had e-filed ITR-1 through online for F.Y. 2011-12 but somehow i forgot to claim the rebate for interest on Home loan paid during yr 2010-11 (i.e. before taking possession of house)which I understand, is to be claimed in 1/5th part in each year for next 5 years.

Can I submit/file a revised ITR-1 & claim a rebate for this amount also.

If Yes please tell me the procedure, is it same as filing the original ITR & I have to submit on same location or somewhere else.

Also If I don't claim this amount & do not file the revised ITR-1 can I claim this amount in next year return i.e. twice of this 1/5th amount.

regards,

Vikas

online-filing revised-return income-tax-return
1 Answers

You should file revised return now.

Procedure is same as original one. Only difference would be following things:

  1. Return filed under section: Revised 139(5)
  2. Whether original or revised return: R-Revised
  3. Receipt No
  4. Original filed return date

You won't be able to claim this extra amount next year. It should be done this year only.

Pankaj Batra5212
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