File revised returns if AIS is showing additional income

YOUR QUERIES: INCOME TAX

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I have filed my ITR before the due date and have received the intimation under Section 143 with no tax dues. An additional income from interest is reflecting in my AIS (Annual Information Statement) now. Should I file a revised return? —Umesh Sharma

As you have identified additional income from interest in your AIS that was not included in your original ITR filing, it is advisable to file a revised return. Even though you have received an intimation under Section 143 with no tax dues, the disclosure of all income is mandatory under tax laws to avoid future discrepancies or potential penalties. By filing a revised return, you can ensure that your income records are accurate and fully compliant with the Income Tax Department’s requirements.