ITR
Revising after receiving a revised Form 16
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Facts
If the revised Form 16 (now Form 130) changes taxable salary, perquisites or TDS, revise your return so it matches Form 26AS (now Form 168) and AIS. Mismatches can lead to adjustments or demands.
Provisions and law
- Sec 139(5), Income-tax Act 1961 (now Sec 263(5), Income-tax Act 2025)Revised return can be filed if an omission or wrong statement is found, by 31 March of the assessment year (Finance Act 2026) or before assessment
- Sec 143(1), Income-tax Act 1961 (now Sec 270(1), Income-tax Act 2025)Return is processed and an intimation shows tax, interest, refund or demand
Analysis
Example: the employer corrected a perquisite of ₹60,000 and added ₹18,000 TDS. Revise to show the extra salary and claim the extra TDS; tax may net off. Wait until the employer's correction statement is processed and the TDS shows in Form 26AS before revising, so the credit is matched.
Conclusion
- Compare the old and revised Form 16
- Check that the new TDS appears in Form 26AS
- Revise with the updated salary and TDS
- E-verify
A Savvy can do this for you
Belated and revised return, Sec 263(4) and 263(5) (old 139(4) and 139(5))
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