A revised return is a return that is filed u/s 139(5) as a revision for the original return to rectify errors and omissions made while filing the original income tax return. You can file a Revised Return if you discover a mistake in your original ITR or if the income tax department issues a notice for any errors made in the ITR. And it is important to e-verify the Revised ITR within 30 days of filing.
- Points to keep in mind before filing Revised Return u/s 139(5) under Income Tax
- When do you file a Revised Return under Section 139(5)?
- Due Date to file Revised Return under Income Tax Act
- How to file Revised Return u/s 139(5)?
Points to keep in mind before filing Revised Return u/s 139(5) under Income Tax
- Revise Return substitutes the original return once it is filed
- Ensure that your original income tax return is e-verified
- Enter the acknowledgment number of ITR-V and the date of filing of the original return
- Even if you filed your return after the due date, which is a belated return, a revised income tax return can be filed on such a belated return.
- You can file a Revise Return even if the return has been processed
- Make sure that you e-verify your revised income tax return after filing
When do you file a Revised Return under Section 139(5)?
Revising on your own
- To rectify errors or mistakes made in the original Income Tax Return
- To disclose income or information not reported in the original Income Tax Return
- To rectify personal details like residential status, address details, bank details, aadhaar number, email or mobile, nature of business code, etc
- If you have filed ITR using the incorrect ITR Form
- If you have missed reporting any additional income, foreign income, or foreign asset
- If there’s a mismatch of income between the income tax return and Form 26AS
- If any incorrect deduction has been claimed in the original ITR filed
Revising in response to a notice
- If the assessee agrees to a mismatch in the notice for the proposed adjustment under Sec 143(1)(a)
- When the assessee pays outstanding demand as per Sec 143(1) and then files a Revised Return
- If you file a belated income tax return with carrying forward losses, you will receive a notice under sec 143(1)(a)(iii). To resolve this, you should file a Revised Return after rectifying the error.
- When there is a difference in the amount of income as per ITR and gross amount as per Form 26AS, you will receive a notice under sec 143(1)(a)(vi). To resolve this, you should file a Revised Return after rectifying the error.
Due Date to file Revised Return under Income Tax Act
As per section 139(5) of Income Tax Act, a Revised Return can be filed before the last date of filing the return (31st December) or before the end of the assessment of the return, whichever is earlier.
- The revised return for FY 2021-22 (AY 2022-23) can be filed on or before 31st December 2022.
How to file Revised Return u/s 139(5)?
You can file a Revised Return by uploading the ITR JSON of your revised return offline using the eFiling portal. You can follow the steps below.
- Login into the e-Filing Portal with PAN/ Aadhar/ User Id and Password. On the dashboard, navigate to Income Tax Returns > File Income Tax Return
- Now, select the Assessment year and Mode of Filing, and click on Continue
- If you select the offline mode of filing, you will get a drop-down of Select Filing Type, audited u/s 44AB, and Select ITR Type, choose the relevant options and click Continue
(under filing type a taxpayer needs to choose section – 139(5) – Revised Return)
- On the next page, attach the JSON file of the filled ITR and click on Proceed to verification.
Thereafter, you have to e-Verify your revised income tax return.
However, you can also File a Revised Return from Quicko. And for expert assistance, you can book a meet from below plan
Yes. As per the amendment in Budget 2016, you can now file a Revised Return u/s 139(5) for a Belated Return u/s139(4) from AY 2018-19.
A return can be revised any number of times 3 months before the completion of the assessment year or before the end of the assessment of the return, whichever event takes place earlier.
Yes, you can file a revised ITR before the due date, even when your original ITR is processed and tax refund is issued (in case you were eligible for a tax refund).
What is the time limit in which I need to respond to the notice under section 139(9)?
How can I respond to the notice received online?
How much time it will take to process the refund once response to notice u/s 139(9) is filed?
It is very common to receive a notice from the Income Tax Department. The notice sent to you might be a routine inquiry or a request for clarification. There is no need to worry when you get a notice from the Income Tax Department. You will have 15 days time in which you will need to respond to the notice/file revised ITR.
Hope this helps!
You can login to your account on the Income Tax e-filing website by entering your credentials i.e. User ID (PAN), password, and captcha code.
Next, you need to click on the ‘e-file’ tab and select ‘Response to outstanding Tax Demand’ option.
Hope this helps!
In case of any defects in the Income Tax Return, Assessing Office can issue notice u/s 139(9). If you have filed a return within 15 days of issue of notice, then it will generally take 60 days to process the return once it is sent for processing.
Hope this helps!
It is mentioned in the notice that in case one does not respond in the stipulated time, the return will be processed by restricting the credit for the TDS proportionately.
To give an example: There are 2 incomes mentioned in Form 26AS as below:
Salary from A - 100000 & TDS deducted - 10000
Salary from B - 200000 & TDS deducted - 20000
In case you have not reported either of the above income in ITR then you may receive a notice for the mismatch.
Thus, in the above example if you don’t respond in the time, then ITD will add the income of both of the above but will not give the credit of TDS not mentioned in ITR and process the return.
Hence, it is always advisable to respond to the Income Tax Notice in the given time period.
Hope this helps!
Hi @Shweta_Saini ,
Notice u/s 144(1) is issued in the following cases:
-When ITR is not filed within due date by a taxpayer
-When a taxpayer fails to provide a response to an inquiry of AO (Assessing Officer) for filed ITR,
-When a taxpayer fails to provide a response to assessment notice for filing ITR.
Here, AO can assess the total income or loss of a taxpayer based on the information gathered by them. AO usually gives the taxpayer an opportunity to present their case and provide necessary documents. Hence response to 144(1) can be given after looking at the cause of the notice and with supporting documents.
Attention XXXXX4061X, Your PAN has been flagged for not filing of ITR for A.Y-2020-21. Please file your ITR or submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal (My Account) - ITD
Please help i want to avoid any problems
Since you had high value transactions and ITR has not been filed for AY 2020-21, ITD has flagged your PAN. Thus, you have to file ITR before March 31, 2021 and respond to the transactions on IT Portal.
You can reach out to us on email@example.com or alternatively get in touch with us at +91-7575831310 so someone from our team can get in touch with you for process, pricing and discounts?
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