The deadline for revising your ITR has passed, and you still haven't received your refund? Now, Section 154 is your last option..

The December 31st deadline for revising or filing delayed Income Tax Returns (ITR Revised Last Date) has passed, but many taxpayers who were waiting for refunds have not yet received them. This has led to increased confusion since the revised return window has closed, with many believing that missing the deadline means they might not receive their refund. However, tax professionals say this is not the case.

If your income tax return has already been processed and you have received an intimation under Section 143(1), but the refund shown is less than expected or not received due to an error, you can request a correction by filing a rectification request under Section 154.

What is a Rectification under Section 154?
This option is typically used when there are discrepancies in TDS or TCS details, or errors in tax or interest calculations. The facility for correction under this section is available online on the Income Tax e-filing portal and can be used even after the December 31st cut-off date.

A revised ITR is filed when you find significant errors or omissions in your original return, such as missing sources of income, incorrect deduction claims, incorrect personal details, or choosing the wrong ITR form. This allows you to completely rework the return to correct major errors.

When is a Rectified ITR used?
A rectified ITR is used when the tax department has already processed the return and it is only for correcting calculation errors, discrepancies in tax credits, or incorrect PAN or gender details.

In simple terms, a revised return is filed to correct a return that you filed incorrectly, and a rectified return is filed to correct a return that was processed incorrectly due to clear errors.

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