Revised Return [Section 139(5)]: A Complete Guide

Section 139(5) of the Income Tax Act, 1961, allows taxpayers to correct errors or omissions in their originally filed Income Tax Return (ITR) by submitting a revised return. Below is a detailed breakdown of its provisions, deadlines, and procedures.

1. What is a Revised Return?

• A corrected versionof the original ITR, filed to rectify mistakes like:
  • Missed income(e.g., interest, capital gains).
  • Incorrect deductions/exemptions(e.g., under Sections 80C, 80D).
  • Wrong personal/bank details.
• Replaces the original returnentirely—only the revised version is considered for assessment.

2. Eligibility & Key Conditions

• Original Return Must Be Filed: Only returns filed by the due date(e.g., 15 September 2025 for FY 2024-25) can be revised. Belated returns (filed under Section 139(4)) can also be revised.
• Multiple Revisions Allowed: No limit, but frequent changes may attract scrutiny.
• No Penalty for Genuine Errors: No additional fees for revising, but fraudulent correctionsmay lead to penalties under Section 271(1)(c).

3. Deadline for Filing

• By 31 December of the Assessment Year (AY):
  • For FY 2024-25 (AY 2025-26), the last date is 31 December 2025.
• Exception: If the assessment is completed earlier, revisions cannot be filed afterward.

4. How to File a Revised Return?

Online Steps:

1. Log into the Income Tax e-filing portal.
2. Select “e-File” > “Income Tax Return” > “File ITR”.
3. Choose “Revised Return”under Section 139(5) and enter the original ITR acknowledgment number.
4. Correct errors(e.g., update income, deductions, or bank details).
5. Submit and e-verifyvia Aadhaar OTP, EVC, or DSC.

Offline Method:

• Use the ITR utility tool, generate a JSON file, and upload it on the portal.

5. Key Scenarios for Revision

• Missed Deductions: Forgot to claim 80C (PPF/ELSS)or 80D (health insurance).
• Income Underreporting: Omitted rental income or freelance earnings.
• Wrong ITR Form: Filed ITR-1 but should have used ITR-2 (e.g., for capital gains).
• TDS Mismatch: Discrepancies in Form 26AS/AIS.

6. Consequences & Cautions

• Refunds: May be recalculated (higher/lower based on revisions).
• Scrutiny Risk: Frequent revisions or major changes may trigger notices.
• Loss Carry-Forward: Only allowed if the original return was filed on time.

7. Revised Return vs. Rectification

1.  Can Returns Filed Under Special Provisions (Sections 139(3), 139(4A), 139(4B), 139(4C), or 139(4D) Be Revised?

Yes, returns filed under Sections 139(3), 139(4A), 139(4B), 139(4C), or 139(4D) can be revised under Section 139(5) of the Income Tax Act, 1961, subject to certain conditions.

1. General Rule on Revised Returns (Section 139(5))

• Any original return(including belated returns) can be revised to correct errors or omissions.
• Multiple revisionsare allowed before the deadline (31 December of the Assessment Year).
• Revised return replaces the original returnfor all assessment purposes.

2. Applicability to Special Returns

3. Key Conditions for Revision

• Original return must have been filed(cannot revise a non-filed return).
• Deadline: Must be revised by 31 December of the Assessment Year(e.g., 31 December 2025 for AY 2025-26).
• Belated returns (Section 139(4)) can also be revised, but losses may not be carried forward if filed late.
• No revision after assessment is completed(Section 153).

4. Consequences of Revising Special Returns

• Loss Carry-Forward (Section 139(3)):
  • If revised before the due date, losses can be carried forward.
  • If revised after the due date, losses (except house property) cannot be carried forward.
• Exemption Claims (Sections 11/12/10(23C)):
  • Must ensure 85% income application ruleis met in the revised return.
• Donation Disclosures (Political/Charitable Trusts):
  • Must correct any undisclosed donationsin the revised return.

5. How to Revise?

1. Log into the Income Tax e-filing portal.
2. Go to “e-File” → “Income Tax Return” → “File Revised Return”.
3. Select the original acknowledgment numberand make corrections.
4. Re-verifyvia Aadhaar OTP/DSC.

2.  Can a Belated Return Under Section 139(4) Be Revised?

Yes, a belated return filed under Section 139(4) of the Income Tax Act, 1961, can be revised under Section 139(5), subject to certain conditions.

1. Key Conditions for Revising a Belated Return

• Original Belated Return Must Be Filed: You must have already submitted a belated return before attempting to revise it.
• Deadline for Revision:
  • Must be filed by 31 December of the Assessment Year (AY)(e.g., 31 December 2025 for AY 2025-26).
  • If the assessment is completed earlier, no revisions are allowed afterward.
• Multiple Revisions Allowed: No limit on the number of revisions, provided they are made before the deadline.

2. How to Revise a Belated Return?

1. Log into the Income Tax e-filing portal.
2. Go to “e-File” → “Income Tax Return” → “File Revised Return”.
3. Select the original acknowledgment numberof the belated return.
4. Make corrections (e.g., update income, deductions, or exemptions).
5. Re-verifyvia Aadhaar OTP/DSC.

3. Consequences of Revising a Belated Return

• No Additional Penalty: No extra fees for revising, but unpaid taxes may attract interest under Section 234A/B/C.
• Loss Carry-Forward:
  • Business/capital losses cannot be carried forwardif the original belated return was filed late.
  • House property losses can still be carried forwardeven if revised.
• Refunds: May be recalculated based on corrections.

4. Key Differences: Belated vs. Revised Return

3. Can a Return Filed Within the Extended Due Date (by CBDT) Be Revised?

Yes, a return filed within the extended due date (e.g., 15 September 2025 for FY 2024-25) can be revised under Section 139(5) of the Income Tax Act, 1961, provided the revision is made by 31 December of the Assessment Year (AY) (e.g., 31 December 2025 for AY 2025-26).

Key Conditions for Revision

1. Original Return Must Be Filed:
   • The taxpayer must have filed the return by the extended due date(15 September 2025 for non-audit cases) to qualify for revision.
2. Deadline for Revision:
   • The revised return must be submitted by 31 December of the AY(e.g., 31 December 2025 for AY 2025-26).
3. Multiple Revisions Allowed:
   • No restriction on the number of revisions, provided they are filed before the deadline.
4. No Revision After Assessment:
   • Once the assessment is completed, no further revisions are permitted.

Practical Implications

• Extended Due Date = Original Due Date:
  • The CBDT’s extension (e.g., to 15 September 2025) treats the new date as the “original due date”for revision purposes. Thus, returns filed by this date are eligible for revision.
• Belated Returns:
  • If filed after the extended due date (but by 31 December), the return is belated(Section 139(4)) and can still be revised, but loss carry-forward may be restricted.

Penalties & Exceptions

• No Additional Fees: Revising a return does not attract extra penalties, but unpaid taxes may incur interest under Section 234A/B/C.
• Loss Carry-Forward:
  • Only allowed if the original return was filed by the extended due date(15 September 2025). Late filings (under Section 139(4)) restrict this benefit.

How to Revise?

1. Log into the Income Tax e-filing portal.
2. Select “Revised Return”under Section 139(5) and enter the original acknowledgment number.
3. Correct errors and re-verifyvia Aadhaar OTP/DSC

4.  Can a Revised Return Be Further Revised?

Yes, a revised return (filed under Section 139(5)) can be revised again, provided:

1. The revision is made before the deadline(i.e., 31 December of the Assessment Year).
   • Example: For AY 2025-26 (FY 2024-25), the last date is 31 December 2025.
2. No assessment has been completedby the Income Tax Department.

Key Conditions

✅ No limit on the number of revisions (can be done multiple times before the deadline).

✅ Each revision must correct errors/omissions from the previous return.

❌ Cannot revise after 31 December of the AY (except via an Updated Return u/s 139(8A) with extra tax).

❌ Cannot revise after the assessment is completed (finalized by the tax department).

How to File a Second Revision?

1. Log in to the Income Tax e-filing portal.
2. Go to “e-File” → “Income Tax Return” → “File Revised Return”.
3. Enter the latest acknowledgment number(from the previous revised return).
4. Make corrections and re-verifyvia Aadhaar OTP/DSC.

Important Notes

⚠️ Loss carry-forward is allowed only if the first return was filed by the original due date (e.g., 15 September 2025).

⚠️ Frequent revisions may trigger scrutiny (tax authorities may question repeated changes).

📌 Only the last revised return is considered valid (earlier versions are discarded).

5.  Revised Return Substitutes the Original Return: Key Implications

Under Section 139(5) of the Income Tax Act, 1961, a revised return completely replaces the original return. Here’s what this means:

1. Legal Effect of Revision

• The last valid revised returnbecomes the only legally recognized return
• The original return and any earlier revisions are void
• The Income Tax Department will only process the latest revised version

2. Critical Consequences

1. Assessment Basis:
   • Tax authorities will assess only the final revised return
   • Any discrepancies in earlier versions become irrelevant
2. Verification Requirements:
   • Each revision must be properly e-verified (Aadhaar OTP/DSC)
   • Unverified revisions are treated as non-filing
3. Documentation:
   • Supporting documents must match the final revised figures
   • Previous versions cannot be cited in appeals

3. Practical Implications

• Refunds: Will be calculated based on the last revision
• Losses: Carry-forward eligibility determined by the final version
• Penalties: Apply only to the final figures (not intermediate versions)

4. When Substitution Doesn’t Apply

• If the revision is filed after 31 December of AY(invalid)
• If the revision is made after assessment completion
• If the revision contains fraudulent changes

5. Best Practices

1. Maintain records of all versions
2. Ensure each revision is properly verified
3. Note that frequent revisions may invite scrutiny