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Revised return of income tax under section 139 (5)

revised return u/s 139 (5)If you make any mistake in filling income tax return u/s 139 (1), no worry. You can file revised return u/s 139 (5). Income tax department has tried to increase tax compliance by giving facility of return u/s 139 (5).

Procedure to file revised return:

Procedure for filling  return is same as filling original income tax return.

  1. You have to only enter 15 digits acknowledgement number of original return. You can file acknowledgement number from ITR V receipt.
  2. Also select section 139 (5) to file return.
  3. Correct the mistake and file the return.

Time limit for filling return u/s 139 (5):

Return can be filed from one year from the end of assessment year. Suppose you want to revise return for a.y. 14-15. You can file it up to 31st March, 2016.

 Features of  revised return:

  1. It  can be filed if you have filed original return within due date. Due date for filling original return is 31st July for non audit party and 30th September for audit party, partner in firm (audit party)and company.
  2. Revised return can be filed in to return filed in response to  notice u/s 142 (1) and return is filed within time limit mentioned in notice u/s 142 (1). If return is filed beyond time limit given under section 142 (1), it is assumed that return is belated return and belated return can not be revised.
  3. You can revise return for unlimited numbers. There is no limit for numbers of revisions in  return.
  4. If a person willfully make mistake in return, it cannot be revised. Because it is case of fraud. Only unintentionally mistake in income tax return can be corrected by revised return.
  5. Suppose assessee makes only application to AO for correcting mistake, it is not valid and cannot be considered return u/s 139 (5).
  6. Interest under section 234A is not applicable for revised return. Reason is that section 234A is applicable for late filling of income tax return and there is no room that return u/s 139 (5) is filed for belated return. But section 234B and section 234C for interest  on delay and deferment of advance tax is still applicable for belated return.
  7. Sometimes taxpayer tries to be smarter and file return u/s 139 (5)disclosing income which are concealed by him in original return. If assessing officer has found that income before taxpayer files return, taxpayer will be penalized. But AO has not found the concealment, no penalty will be levied.

36 Comments

  1. By ram bengani

    I have not filed by return within due date. I filled my return of fy 2013-2014 in December 2014. Now i need to revise the return.

    Please advice.

    Thanks
    Ram

    • By admin

      Belated return can’t be revised. Only rectification can be filed.

  2. By srinath

    Hi, I have filed a revised return for FY14-15 in January and have received an acknowledgement, can i know how long will they take to process the request and refund the money. Thanks

    • By admin

      6 to 8 months from filling the return.

  3. By Nitin Sharma

    I could not file revised income tax return in time. Now what options/procedures I have to follow? Help please.

  4. By VARUN

    we filed wealth tax return for the AY 2014-15 on 30th june 2015. so can we file revised return now??

    • By admin

      You can file revised return up to one year from end of the assessment year. So you can file.

  5. By Sumit

    i filed an itr-1 online and had tax payable in it. So i paid the balance tax online. Now since i have already files my original itr-1 ,do i need to file a revised itr-1 u/s 139(5) and this time i would include the Self assessment tax in it so that tax payable is 0. Is that what I am supposed to do or is there something else?

    • By admin

      If you have filed return within due date, you can file revised return. Otherwise you need to go to rectification. If you did not include SA tax details in original return, you can correct the return by revised return or rectification.

      • By sumit

        By revised return you mean I should file the itr-1 u/s 139(5)? And then I would sign and send the revised itr-v form by general post to income tax department ? Or do I need to sign and send both the itr-v to the income tax department
        Thanks a lot for your reply.

      • By admin

        Only revised ITR 1.

  6. By Prabu

    Hi, I have filed returns for AY14-15 manually in July 2014 and have received an acknowledgement slip (ACK number with bar code seal) as well. But till date(till August 2015) I HAVE NOT received my Refund money in my bank account.
    I also found some email wherein we can check the status of refund (which I had seen in some forums) – itro@sbi.co.in, but they came back to me saying that they don’t have my records and instead asked me to check with ITD.
    Can you please advise me on the process to get the refund.

    Many Thanks in advance.

    • By admin

      Meet assessing officer of your ward. He can help.

  7. By RAJESH BHARGAVA

    During filing of return online I found on the e filing site that a notice was sent to me in July 2013 regarding return filed for AY 2012-2013, I have not received that notice, now please inform me the procedure how to solve this problem/ how to get the copy of notice.

    Regards,

    R.BHARGAVA

    • By admin

      You can go for rectification.

  8. By Neeraj

    I have filed income tax return under ITR-I yesterday and its electronic verification is pending. .However I found later that for refund purpose, I have mentioned the wrong IFSC code of my bank. I have prepared revised ITR-i under Section 139(5) but has not filed it so far. Should I first verify the pre-revised ITR-I under Section-139(1) electronically or straight forward file revised ITR-I under Section 139(5) electronically without verifying pre-revised ITR-I.

    • By admin

      E verify the return and after that revised return with correct data.

      • By Akash

        Thank you for the great knowledge sharing.
        I did not add bank interest in ITR-1 when i filed on 31-August-2015. On 1st September i revised the return by adding bank interest. Also e-verify is completed for revised return.
        Should i e-verify original return also ? If so, what is the need to e-verify original return while is is invalid after the revised return ?

      • By admin

        E verify original return also. There is no validity of revised return without valid original return.

  9. By Harshit

    Hi, filed IT returns under ITR 1 on 27th with e-verification pending. All the details I have entered in the excel utility are accurate except for ‘income under salary’ in the TDS sheet. Even the TDS amount is accurate. I have mentioned the correct income in the income details sheet also. Kindly confirm if the column where I made an error is important and is it necessary to filed revised return under sec 139(5)? If yes, first e-verify and then file revised return under 139(5)? Also, heard that filing revised returns increases the chances of getting a notice. True?

    • By admin

      File revised return with accurate data. First e verify and file revised return. Dont believe in those things.

  10. By Revathi

    Dear Madam,

    I filled the AY as 2013-2014(BY MISTAKE) ,which in fact was for 2014-2015. IT Dept has sent me a DEMAND notice US 143(1).
    How to rectify this error?
    Please guide.
    Thank you.

    • By admin

      Revised the return for fy 2012-13 and show income of that year.

      File original return of fy 2013-14.

  11. By Bixapathi

    Madam,

    Recently I’ve got a demand notice from IT dept regarding FY 2012-13 ( AY 2013-14) which is uploaded by Jurisdictional AO and rectification rights are with AO.

    On verifying the return I’ve submitted that year, the demand amount seems correct and needs to be paid. I think I also need to revise my return for that year ( I claimed exemption for my sweep account interests under section 80TTA thinking these come under savings account interest so I need to correct it)

    Now my query is how to deal with the situation.
    1, Whether I have to accept the demand and pay it online? but in this case the return which I have submitted will not be correct as it contains interest amount under sec 80TTA

    2, Should I revise my return for that year with paying self assessment tax and disagree with the demand after uploading the revised return and its info under disagree with demand “reasons” section? If I should revise, which section I should indicate.

    3, As the rectification rights are with AO, will my return get processed at CPC if I do any of the above 2 cases or I need to contact the AO compulsorily?

    Please clarify and guide me in this regard as to what action I need to take.

    Thank you.

    • By admin

      Conact AO and pay the demand. He will nullify the demand.You cannot revise the return as time limit is over.

      • By Bixapathi

        Thank you madam.
        But even after paying the demand, the return which I filed will indicate the amount under section 80TTA only, so how to correct it madam?

  12. By sunil

    I have submitted my revised return, 3 aug, 2015. there is no information about processing, as per the revised return there is refund amount. how long it takes for the revised return to process.

    • By admin

      1 to 3 months. You will receive intimation. Just check the mail regularly.

  13. By Dipak

    I have e verified my original ITR and later on I sent in my revised return because of an error in the original return. I have not verified this revised return as yet. I want to revise my return again because of another mistake. Do I need to e verify the earlier revised return before revising it again?

    • By admin

      No need to verify the revised return. It will become invalid after lapse of time. File revised return with correct details and verify that return.

  14. Madam i have rivised my incom tax return now there is sccotne there is huge difrence in sundrycrideters between orginal and rivised but the right one is revised the ITO is not accepting revised S cridetars pls guide me very urgent thankyou

  15. By Nishi

    I filed my return for AY 2015-16 before due date and the same has been processed also by dept. Now I realised that I have forgotten to carry forwards loss from sale of house property of previour year. Can i file revised return?

  16. By Hariharasubramanian

    You have guided to file Rectification Request in case the due date for Revised Return is over.I understand that when we proceed to file rectification request, it asks for the Communication Reference No from CPC. I also heard that rectification can be filed only if
    My original return for the year in question is already processed and also the date for revised due date is over.

  17. By Devender

    i had filled my original Return on 18/09/2015 for A.Y 2015-16 u/s 139(4) , and claimed refund on basis of relief u/s 89 on arrear salary received but department process my return without refund and not given me relief ofsection 89 , then i revised my return with separtaly filled form 10E on 17/11/2015 but revised return is not processed by department due to belated return revised, please suggest how can i find my refund

  18. By Devender

    i have filled my Original return for A.y 2015-16 on 18/09/2015 , under section 139(4) , and claim a Refund ( refund after getting relief u/s 89) but Department process my return without refund and not give me relief u/s 89, due to non filling of Form 10E for releif of section 89, i revised my return with Form 10E, as per department revised return is invalid, my question is how can i claim my refund now

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