An assessee who is required to file a return of income is entitled to revise the return of income under Section 139(5) of Income Tax Act, 1961 originally filed by him to make such amendments, additions or changes as may be found necessary by him. Such a revised return may be filed by the assessee at any time before the end of the relevant assessment year or before the assessment is made whichever is earlier (upto A.Y 2017-18 the return can be revised at any time before the expiry of one year from the end of relevant assessment year or before the assessment is made whichever is earlier). Section 139(4) and 139(5) – Time limit for filing belated return reduced
However, if a person deliberately files a false return he will be liable to be penalty u/s 271(1)(c) upto A.y 2016-17.(wef A.y 2017-18 penalty shall be levied under section 270A and Assessee may be imprisoned under section 277 and the offence will not be condoned by filing a revised return.
As per Section 139(5): a revised return may be filed by the assessee at any time before the end of the relevant assessment year or before the assessment is made whichever is earlier (upto A.Y 2017-18 the return can be revised at any time before the expiry of one year from the end of relevant assessment year or before the assessment is made whichever is earlier. Thus return of A.Y 2018-19 can be revised till 31st March 2019 or before the completion of the assessment whichever is earlier and return relating to A.Y. 2017-18 can also be revised till 31.03.2019
Point to Remember for filing of Revised Income Tax Return under Section 139(5) of Income Tax Act, 1961
1- Revise Income Tax tax returns can be filed under Section 139(5) of Income Tax Act, 1961 before the end of the relevant assessment year or before the assessment is made whichever is earlier (Up to A.Y 2017-18 revise return was allowed to be filed before the expiry of one year from the end of relevant assessment year or before the assessment is made whichever is earlier). For the financial year 2017-18 one can file the revised return up to 31st March 2019.
2- You can’t Revise Your Income Tax Return under Section 139(5) of Income Tax Act, 1961 if income tax department already did the assessment of your return.
3- If you missed any deduction or income in the return you can Revise Your Income Tax Return.
4- If some information come to your knowledge after filing the Income Tax Return You can Revise Your Income Tax Return.
5-The receipt no. & the acknowledgement no. is must for revision of Income Tax Return under Section 139(5) of Income Tax Act, 1961.
6- Revision of Income Tax Return under Section 139(5) of Income Tax Act, 1961 is allowed only if the omission was unintentional. The benefit of Section 139 (5) cannot be claimed by a person who has filed fraudulent returns. Section 139 (5) will apply only to cases of ‘omission or wrong statements’ and not to cases of ‘concealment or false statements’. Once you revise your Income Tax return, the original stands withdrawn. If the omission(s) in the original Income Tax return is intentional, the assessee will be penalised
7-No need to pay interest u/s 234A if any tax due, but you have to pay 234B, 234C interest if due
8- you can only revise the return if the original one was filed on time. Belated returns cannot be revised. However wef from A.Y 2017-18 belated Income Tax returns under section 139(4) can also be revised.
9- You can file a revised Income Tax return only in case of ‘omission or wrong statements’ and not for ‘concealment or false statements’
10- Income Tax Returns under Section 139(5) of Income Tax Act, 1961 can be revised when filed pursuant to notice under Section 148 as it is provided u/s 148 that for such return all the provisions of section 139 shall apply.
11- You will have to cough up 100 to 300 per cent of tax due as penalty for concealing income (W.E.F. A.Y. 2017-18 the penalty shall be 50 percent of tax payable on under-reported income and 200 percent of the tax payable in case of mis-reported income
12- If the Income Tax returns are revised before the notice under Section 148 is issued, then there is no penalty.
13- If income was hidden in the original return and is revised and disclosed after the assessing officer pursued it, then a penalty is levied. If the revised return shows a higher income than originally declared, a penalty may or may not be levied.
14- Revised returns have a higher chance of landing a scrutiny letter from the I-T department.
15- To file revised returns, one can use both the online and physical methods. However, you can revise returns online only if you have filed the original returns online and have the 15-digit acknowledgement number. You cannot, otherwise, file returns online. The I-T department searches for the original details once the returns are revised. On not finding the original return, an error is shown. Therefore, it may be wise to revise in physical form.
16- If the taxpayer has revised return after the survey and it was has found that the mistake in the original return was not bonafide then levy of penalty is justified.
17- If some income was concealed in the original return and revised return disclosing such income is filed after the AO has unearthed such undisclosed income then penalty can be levied.
18- If the asseessee after the search filed the revised return declaring higher income than declared in original one, to buy peace of mind and to avoid litigation then penalty cannot be levied .
19- If the taxpayer has declared higher income in revised return of his own and there is nothing to prove that the taxpayer had concealed income malafidely then no penalty can be levied.
20- If the asseessee after the search filed the revised return declaring higher income than declared in original one, to buy peace of mind and to avoid litigation then penalty cannot be levied.
Text of Section 139(5)
If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.]
(Republished with Amendments)
sir i filed ITR 3 .sales stated in ITR was 381000 but in gst i report sales 1350000 can i revised return & if i not revised return what consequent
ITR 1 was filled and submitted online before due date 31st July,2018. But as house loan interest not included ,revised ITR 1 submitted online on 19th September , 2018.
In the above case shall I have to pay late fine where my gross income is above Rs.10,00,000. PA
sir, i have filed return u/s 148 for a.y. 2011-12 in may 2018 after received a notice from department . on checking the record after return filing , i find another income not shown in my return. can i file the return u/s 139(5) with high income and with more tax , please advice , highly obliged
Sir, is it compulasory to Post original return to return to bangalore with revised return.
Sir I have e-filed return which is assessed. But due to
Tan no. mismatch with form 26as i got part amount of
refund. How I claim balance refund. Pl guide me.
Sir, I have filled ITR-4 form instead of ITR-1. Is it possible to revise it now b filling revised return in ITR-1 section?
Plz help, Thank you
Sir, If I have filled the ITR1 but didn’t e-verify and came to know that I had to file ITR2. Please confirm whether the ITR2 to be filled as original or revised under section 139(5). Regards
sir whiel filing revised ITR by msiatke i put wrong date of original return. is it ok?
Sir
I have filed my income tax return admitting the income from business at 5,20,000/- for the AY 2013-14 on 30-06-2013 and later I realised that I have omittted to claim interest and revised my income tax return and filed with loss of Rs.1,26,000/- on 25-05-2014. Please clarify whether I am eligible for carry forward of loss or not.
Sir I have filed one return in IRT3 instead of ITR 4 for ass. year 2017-18, can i revise the return with ITR 4 showing under 44AD with lower income compared to original return
Sir
ACQPJ3751P GURMEL SINGH JANDA
FY-2016-17 E-filing date 27-04-2016
Original ITR E-filing Ack no 317417530270716
Communication ref no CPC/1617/A1/1700410805
Demand identification no.2017201637004796245T
I e-filed my above ITR 1 before due date. However
CPC observed 2 descrepencies:- 1 TDS deducted from salary and deposied differed which has now been corrected by TDS deducting office.
2.TAN of deducting office was wrongly quoted by me.
Kindly advise under which section i should resubmit my revised ITR.
Thks
IT Return for 2017-18 was filed but came to my notice certain amount of tax is payable.I request to guide me how to file a revised return online under section 139(5).
I
I filed income tax file for 2015-16, now i came to know that the NPS give me more refund. unfortunately, at that time i am not aware of this scheme.
so can i revised file and get benefit of NPS scheme for more refund.
Sir, I have filled a tax return on 01 Jul 17 the total tax reflected Rs 10146 in income tax site when I was login into my tax site, but total tax deducted in form 16 is 16664/- when I opened the site if income tax on 05 Jul 17 it’s show total tax deducted Rs 16664/- can I file a revised returns or not please suggest me what can I do..
My return filed before due date for PY 15-16 was inclusive of house perk which later on became exempt. Meanwhile assessment order is completed. When I filed revised return claiming refund, CPC has sent a notice saying rectification rights have been transferred to the AO. What should be the next step.
It is requested to all kindly mail your query at lksharmapcs@gmail.com it will be attended in 1-2 working days.
hi I filed IT Return for AY 2016-17 and it was processed on 28.09.2016 declaring no demand no refund .Can I submit revised return for AY 2016-17 as I am due to get some refund?
I, deposited Rs.490000/- into my saving bank account as on 29-02-2011. I did not file any ITR till date. Now I want to file ITR for AY2016-17. Assessing officer can ask me for amount deposit in 2011 and can issue a notice to me u/s 148
my tds deducted by two employers. while e-filing I have shown the whole tds in one employer account. IT dept issued demand notice . how can i rectfy this problem
Sir, The IT Return was submitted before the due date in Form 4 for the AY 2016-17. if a notice received u/s 139(9), Can I filed the revised return u/s 139(5) in Form 4S. If so, is it necessary to comply u/s 139(9).
Sir I filled itr but it is defective,now I want to refill .
pls suggest…….
I file my income tax file after due date but accidentally I put before due date. How can I solve this?
Sir,
I am a retired army officer having retired in Mar 2010. I am entitled a Service Pension and a Disability Pension, both of which are tax free. However I was not aware of the rules and thus every year I pay tax on the pension received. Since I did not know the rules can I now claim all the excess money paid as taxes due to my ignorance? If so, how do I do it? Thank You.
sir, I have filed return on 12.07.2015 for A.Y. 2015-16. Rs.110/- have been refunded to me also after assessment. Now I have learnt that interest earned from PPF account also required to be shown in the ITR. Can I file a revised return for the A.Y.2015-16 alongwith return for A.Y.2016-17.
Do we have any answer here? ?
Do we have any answer here ?
I have filed return on 06.06.2016. Paid some tax by Self Assessment tax to make the tax payable as 0. But now again when I saw my status I found that my Employer deducted TDS which was not shown in Traces that time. What should I do to claim refund now? File revised return? or the Department will calculate refund of their own and process it?
Sir, I have filled my return on dated 31st July 2014, and revised it after some time and got it processed the revised return. But I couldn’t submit the itrv of original to CPC.. Can I revise my return again? As i hav discovered some some mistakes.
Sir,
If We have submitted our Return and That Return have processed and We seen that our refund did not credited due to non addition of TDS Section.
So I revised it but since a long time I did not get any response only shown your ITR have received.
So what I should do now?
Sir
I received arrear of PENSION, DA, LTA AND OLD AGE ALLOWANCE PERTAINING TO LAST TEN YEARS IN THE MONTHS FROM OCTOBER , 2015 TO JANUARY, 2016. IT IS ABOUT RS. 393358/- I WANT TO FILE REVISED RETURN FOR THE LAST TEN YEARS IN AN ATTEMPT TO BIFURCATE THE AMOUNT TO SAVE TAX. CAN I FILE THE SAME? KINDLY ADVSE ME.
REGARDS
GURMIT SINGH
Sir
I received arrears of Pension, DA, Gratuity, Old Age Allowance and LTA petaining to the Assessment Years 2007-08 to 2016-17 in the current FY 2015-16 ie. for the last 10 years. I want to avail of concession. The total amt is Rs. 486326/-. Kinddly advise me.
Regards
Gumit Singh
Hi,
I have bought a residential property in 2014. Now i have got a notice from IT department that “Transfer of Property reported in AIR, but capital gains is not declared in return of Income.” for tax year 2014-15 Since i am the buyer, do i need to report the transaction in my ITR. What should i do now to rectify this question?
Thanks,
Tijo
I filed a return mistake for f/y 2011-12. at present can i revised this return .
wanted to fill 2012-13 return but entered details of 12-13 in the sheet 14-15 and uploaded same so pls help me for the refund
I have filed the return 2014-15. now i have received arrears for that year. Can i file a revised return with that amount included and reduce the arrear amount from the current financial year,2015-16?
Pls help me in this situation for Revised Return.
i filled original return in time and also got the refund of Rs. 15000 for A.Y. 2015-16. Now i want to increase my Income and that comes a tax liability of Rs.7000(other than Considering TDS Refunded amount).
Now my question is while filing Revised Return, whether i should take the TDS Credit which i already got as refund or i should not consider the TDS Credit and Pay the Tax of Rs. 7000 through Challan?
Sir i have filled the income Tax return on the date 29 march 2015 for the previous year 2013-2014 can i fill revised return
HOW I CAN FILING REVISED ITR 1 FOR THE YEAR ASSESSMENT YEAR 2012-2013 ON PRESENT DATE
I filed my incometax return before 31st july.But now only came to know that i should have declared all my SB accounts..can i file a revise return..please reply..it’s urgent
sir
iam filing return 4s for the year 2013-2014 and but not see the Enhanced Depreciation.
what will do ?
I have filed tax return via tax spanner for FY13-14. Tax Spanner had filed the wrong return, Can I r-file return for FY 13-14 or can I sue Tax spanner for filing incorrect return.
Hi, I have a query. I was filling in the details of ITR 1 and before i could make some changes, I accidentally submitted it. Now again, I filled the REVISED ITRI. I have e Verified the revised and original returns both and received acknowledgement of both (original & Revised). Now my question is, Is there any problem in this. Please advise! Thanks & Regards, – See more at: https://taxguru.in/income-tax/revised-return-section-1395-income-tax-act-1961.html#sthash.NBg81hlr.dpuf
Can i revised filed eITR twice.
I e-filed ITR1 on 14 Jul 15 and got refund in my a/c on 28 Jul 2015. Today I realised that I had not included LFC amount in total income. Now when filling revised ITR1 u/s 139(5) how to edit TDS in item 19 of ITR1 so that Refund value gets to zero.
Hi,
I have a query. I was filling in the details of ITR 1 and before i could make some changes, I accidentally submitted it. Now again, I filled the REVISED ITRI.
I have e Verified the revised and original returns both and received acknowledgement of both (original & Revised). Now my question is, Is there any problem in this.
Please advise!
Thanks & Regards,
Vimal
Hi,
I have a query. I was filling in the details of ITR 1 and before i could make some changes, I accidentally submitted it. Now again, I filled the revised ITR I form with 17 -Revised 139(5) option and gave the original returns acknowledgement #.
I have eVerified the revised returns. Now my question is, should I also eVerify the Original returns?
Do I need to eVerify both or only the revised form?
Please advise!
Thanks & Regards,
Prasad.
hello sir i have filled my return as itr 4s for ay 2014-15 and 2015-16 but i want to file it as itr 1 as salary income can i revise both returns now???
Hi Sir,
I have filled the return for the current year but by mistake i filled the TDS deducted by my organisation into Advanced tax.
So can you please suggest me what should i suppose to do now.
Thanks in advance.
Regards,
Atul kumar singh
Here is my dilemma on UFIA’s compliance window;
A citizen of USA opened few bank accounts in USA while working & living there. Then he came to India & eventually became a tax resident as per Income Tax Act. Would his bank accounts be considered as Undisclosed Assets? As per FAQ 24, answer is NO and furthermore the person does not need to file a declaration in respect of those assets under Chapter VI of the Act.
He declared these assets in returns for AY 2014-15.
While tax resident in India he failed to report(non wilful) his interest income from above US bank accounts for 5 years in Indian income tax returns. What should he do now under compliance window offered by Income Tax department? FAQ 26 does not address this particular expat issue of FOREIGN INCOME & directs answer towards assets. I am literally confused about how to report previously unreported foreign income from explainable accounts & thus are not Undisclosed Foreign assets. I request you to please help & guide.
I have made non wilful mistake in past by not reporting my foreign income but I want to rectify my mistake now but do not know how to do it. FAQ 26 issued by department is tying this income with fair market value of asset & consequent tax & penalty on value of asset & not on unreported income. I am willing to pay tax & penalty on unreported income but same if applied on fair market value of asset will wipe off my life savings. I hope you would agree with me that punishment has to commensurate with crime.
Your guidance & hopefully change in policy will be highly appreciated.
Warm regards
Pancham