How to Edit, Revise, and Modify Income Tax Return (updated)

In this article, you will know How to Edit, Revise, and Modify Income Tax returns. It is the updated method as per the 2021 tax policy. When you miss something in your tax return and submit the return in a hurry this method will help you in modifying your submitted tax return. I have shown here the complete method to edit, revise, and modify already submitted tax returns.

Now as per sections 114(6) and 116(3) Where a person, who has furnished a wealth statement, discovers any omission or wrong statement therein, he can submit a revised statement.

Here is a notable thing is, you can modify your previous 5 year’s tax returns.

Note: you must also submit a written application to commissioner FBR regarding your revised tax return.

After that commissioner is empowered to accept or reject your revised income tax return.

You can also enroll in our Income Tax Return Master Course 2022 by pressing the apply now button.

Rules for Modifying Income Statement

As per article 114(6) of the Income Tax Ordinance, 2001 amended up to 30 June 2020:

Subject to subsection (6A), any person who, having furnished a return, discovers any omission or wrong statement therein, may file a revised return subject to the following conditions, namely:

(a) it is accompanied by the revised accounts or revised audited accounts, as the case may be;

(b) the reasons for revision of return, in writing, duly signed, by the taxpayers are filed with the return;

(ba) it is accompanied by the approval of the Commissioner in writing for revision of return; and

(c) taxable income declared is not less than and loss declared is not more than income or loss, as the case may be, determined by an order issued under sections 121, 122, 122A, 129, 132, 133 or 221:-

Provided that if any of the above conditions are not fulfilled, the return furnished shall be treated as an invalid return as if it had not been furnished. 

Provided further that the condition specified in clause (ba) shall not apply if a revised return is filed within sixty days of the filing of the return:

Provided also that where the Commissioner has not made an order of approval in writing, for revision of return, before the expiration of sixty days from the date when the revision of return was sought, the approval required under clause (ba) shall be deemed to have been granted by the Commissioner, and condition specified in clause (ba) shall not apply:

Provided also that condition specified in clause (ba) shall not apply and the approval required thereunder shall be deemed to have been granted by the Commissioner, if:

(a) the Commissioner has not made an order of approval in writing, for revision of return, before the expiration of sixty days from the date when the revision of return was sought; or

(b) taxable income declared is more than or the loss declared is less than the income or loss, as the case may be, determined under section 120:

“Provided also that the Commissioner shall grant approval in case of a bonafide omission or wrong statement”.

Rules for Modifying Wealth Statement

According to article 116(3),  Where a person, who has furnished a wealth statement, discovers any omission or wrong statement therein, he may, without prejudice to any liability incurred by him under any provision of this Ordinance, furnish a revised wealth statement along with the revised wealth reconciliation and the reasons for filing revised wealth statement under intimation to the Commissioner in the prescribed form and manner, at any time before the receipt of notice under subsection (9) of section 122, for the tax year to which it relates.

Provided that where the Commissioner is of the opinion that the revision under this sub-section is not for the purpose of correcting a bona fide omission or wrong statement, he may declare such revision as void through order in writing after providing an opportunity of being heard. 

Explanation:- For the removal of doubt it is clarified that the wealth statement cannot be revised after the expiry of five years from the due date of filing of return of income for that tax year.

Download the Written Reply statement File

Video Tutorial

Watch this video tutorial about Edit, revising, and modifying income tax returns for 2021.

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