How to fix a Schedule FA or RSU mistake in a filed ITR-2 (AY 2026-27)

You filed your ITR-2 on July 28. On August 2 you opened the broker statement again to check something and noticed the vest date you used was off by one day, which means your SBI TTBR rate was wrong, which means your Schedule FA closing value, your perquisite amount, and your cost basis for future sales are all slightly off.

Or: your CA filed the return but the perquisite was computed on the net shares (after sell-to-cover) instead of the gross vest value. Or: you missed a February vest entirely because the broker email went to spam.

These mistakes are fixable. The mechanism is a revised return under Section 139(5).

What a revised return does

A revised return completely replaces your original filing. Every schedule in the revised return is re-entered from scratch — the ITD portal does not carry forward the original data and apply a diff. You are re-filing the entire return with corrected numbers.

The original return's acknowledgement number (ITR-V) becomes superseded. The revised return gets a new acknowledgement number.

Deadline: December 31, 2026 for AY 2026-27, or before assessment is completed — whichever is earlier.

Common RSU mistakes that warrant a revised return

1. Wrong SBI TTBR rate

SBI TTBR rates change daily. Using the rate for the wrong date — even one day off — produces a different perquisite value in INR and a different cost basis for future sales.

How to find the correct SBI TTBR: Go to sbi.co.in → Foreign Exchange Rates → TTBR historical rates. Search by date. If the vest date falls on a weekend or public holiday, use the rate on the immediately preceding working day.

The impact: a vest of $10,000 with a TTBR difference of ₹0.30/dollar (e.g., ₹83.20 vs ₹83.50) changes the INR perquisite by ₹3,000. For a large vest this compounds.

2. Missing a vest event

If you had multiple vesting events during FY 2025-26 (common with quarterly vesting) and missed one — the entire vest amount is missing from Schedule S (salary), Schedule FA (the foreign asset disclosure), and potentially Schedule CG if shares from that lot were sold.

Effect on Schedule FA: you've understated the "peak value" of your foreign asset holding and possibly understated the "closing value" if shares from that lot were held on December 31, 2025.

3. Net perquisite instead of gross

Perquisite = FMV at vest × shares released (gross), not the net shares after sell-to-cover × FMV.

If the original return used the net deposit value (after US tax withholding), the perquisite income is understated. The revised return should include the full gross vest value.

4. Wrong cost basis on Schedule CG

If you sold RSU shares in FY 2025-26 and used the wrong cost basis — either zero (as if the shares were free), or the grant-date value instead of vest-date FMV — the capital gains figure is wrong. Understating cost basis overstates the gain and overstates tax; overstating cost basis understates the gain and creates a potential liability.

5. Incomplete Schedule FA

Schedule FA must list all foreign assets held at any point during calendar year 2025 (1 January–31 December). Common omissions:

• Shares vested in January or February 2025 that were sold before March 31, 2025 (the Indian financial year start) — still required on Schedule FA for the calendar year
• A second broker account (e.g., shares transferred from company's broker to a personal brokerage)
• ESPP shares alongside RSU shares in the same account

6. Filed ITR-1 instead of ITR-2

ITR-1 cannot carry Schedule FA, Schedule FSI, or foreign-source income. Any Indian resident with foreign assets (even unvested RSUs that show up in a brokerage account) must file ITR-2. If ITR-1 was filed, revise to ITR-2.

How to file a revised return on the ITD portal

Step 1: Log in and navigate to file a return

Go to incometax.gov.in → e-File → Income Tax Returns → File Income Tax Return.

Select:

• Assessment Year: 2026-27
• Mode: Online

Step 2: Select "Revised Return" filing type

When prompted for the filing type, select:

139(5) — Revised Return

You'll be asked to enter:

• Original return's acknowledgement number (15-digit) — find this in your ITR-V PDF or in your e-filing account under e-File → Income Tax Returns → View Filed Returns
• Original return's date of filing

Step 3: Re-enter all schedules from scratch

The portal will pre-populate some fields from the original return in some cases, but treat the entire return as a fresh filing. Verify every field:

• Schedule S: Salary income with corrected perquisite value (gross vest at correct TTBR)
• Schedule CG: Capital gains with corrected cost basis
• Schedule FA: Complete foreign asset disclosure (calendar year 2025)
• Schedule FSI: Foreign source income (dividends + foreign capital gains)
• Schedule TR / Form 44: FTC claim with 1042-S as supporting document

Step 4: Recompute tax and pay any differential

If the revision increases your tax liability (e.g., you missed a vest), pay the additional self-assessment tax via Challan 280 before submitting. You'll also owe Section 234B/234C interest on the additional tax if it was outstanding from the original return.

If the revision reduces your tax liability (e.g., you overstated income), the excess tax paid in the original return becomes a refund claim — the revised return will trigger a re-processing and the department will issue the refund after verification.

Step 5: E-verify within 30 days

Same as the original return — verify within 30 days using Aadhaar OTP, net banking, or DSC. The earlier ITR-V is no longer valid once the revised return is filed.

What happens to the original return

Once a revised return is filed, the original return is superseded. The ITD processes the revised return as the final return for that assessment year. The original's acknowledgement number is recorded in the system as "revised" and the revised return's number becomes the active one.

If the department sends a Section 143(1) intimation based on the original return before you file the revised return, respond to it first (or file the revised return and then respond to the intimation citing the revised filing).

When a revised return isn't enough: ITR-U

After December 31, 2026, you cannot file a revised return. The only option is an Updated Return (ITR-U) under Section 139(8A). ITR-U:

• Can be filed up to 2 years from the end of the assessment year (March 31, 2029 for AY 2026-27)
• Requires a 25% additional tax on the incremental tax + interest (if filed by March 31, 2027), or 50% after that
• Cannot be used to claim a refund — only to pay additional tax or disclose additional income

If you find an error in the original return after December 31, 2026, ITR-U is the only recourse. The 25–50% surcharge makes it expensive — revising before December 31 is strongly preferable.

Quick reference: which mistake needs what action

Mistake found	Action	Deadline
Wrong SBI TTBR rate	Revised return (Section 139(5))	Dec 31, 2026
Missing vest event	Revised return	Dec 31, 2026
Net perquisite used instead of gross	Revised return	Dec 31, 2026
Incomplete Schedule FA	Revised return	Dec 31, 2026
Wrong cost basis on Schedule CG	Revised return	Dec 31, 2026
Filed ITR-1 instead of ITR-2	Revised return (file as ITR-2)	Dec 31, 2026
Mistake found after Dec 31	Updated return (Section 139(8A)) + 25-50% surcharge	Mar 31, 2029

One more thing: AIS feedback

After filing the revised return, check your AIS (Annual Information Statement) on the ITD portal. If there are income entries in AIS that don't match your revised return (e.g., AIS shows a foreign dividend that you've now included in the revised return), submit feedback in the AIS portal marking those entries as accounted for. This reduces the chance of an automated mismatch notice.