Revised Return Concept under Income Tax

Revised Return Concept under Income Tax

Taxpayers can correct errors on their original tax returns by filing a revised return under Section 139(5) of the Income-Tax Act of 1961. This return will be used to amend incorrectly reported deductions or exemptions, and erroneous income declaration. When the taxpayer receives an intimation or letter from the government requesting a higher tax claim, the taxpayer must file a revised return. The initial ITR is deleted if you amend your income tax return. IT returns revision differs from rectification. Rectifications, unlike revisions, can be made only after receiving notification from the I-T Department’s Central Processing Centre (CPC). This directive is usually issued anytime the department finds an inconsistency or when the taxpayer files a rectification appeal. 

Mathematics errors, inaccurate gender, advanced tax difference, and tax credit mismatch are examples of cases that need correction. The taxpayer can’t seek additional exemptions or deductions or reveal new revenue during rectification. Only the return revision should be used to make these updates.

Who is entitled to file a new tax return?

Any taxpayer who has already filed an income tax return has the option to amend and resubmit it. An amended income tax return will be filed even though the return is filed after the due date, which is known as a belated income tax return.

What are the risks of submitting a revised return?

There are no risks of filing a new report if the taxpayer had made small adjustments in its revised return, such as changing the bank account information or contact information. However, whether the updated report contains an undeclared income or other significant rectifications, the tax department might notice the change and investigate the tax filed in the previous return.

Only if the error was unintended is it possible to amend an income tax return under Section 139(5) of the Income Tax Act, 1961. An individual who has filed false returns cannot invoke the protections of Section 139 (5). Only cases of “omission or incorrect claims” would be covered by Section 139 (5), not cases of “concealment or misleading statements. The assessee would be penalized if the omission(s) in the initial Income Tax return is made intentionally.

IMPORTANCE OF Revised Return Concept under Income Tax

This amended return must be submitted by the end of the applicable assessment year or the assessment’s completion, whichever comes first. In the case of AY 20-21, the amended return should be filed at any time between now and July 31, 2021, the appraisal year’s end. However, if the I-T Department completes the evaluation (examination or best judgment assessment) before that will be the last day on making changes to your return.

Taxpayers will also make changes to ITRs that have been filed late. That is, taxpayers can amend the FY19-20 return even though it is filed after January 10, 2021 (the due date for filing the return) or the appropriate extended due date. Notice that the belated return’s due date is the same as the amended return’s — the conclusion of the relevant assessment year or before the assessment is completed, whichever comes first.

All you need to revise your return is the acknowledgment number and the initial return’s filing date. On the e-filing portal, choose “revised return under section 139(5).” Be sure to double-check your return; otherwise, the Department will reject your amended return.


 Previously, an income tax return could only be amended if the initial return was completed before the due date. The positive news is that beginning in the fiscal year 2016-17, even belated returns can be revised.

STEP 1- Sign in to your online account by entering your user ID, password, and the captcha code shown on the home screen. 

STEP 2- Tap on ‘E-File’ and then ‘Income Tax Returns’ in your account.

STEP 3- Your PAN Card number will be automatically inserted in the PAN card information box when the ‘Income Tax Return’ tab opens. Then you should pick one of the following –

  1. Year of Assessment
  2. ITR Form Number
  3. You must choose ‘Original/Revised Return’ under ‘Filing Form.’
  4. You must choose ‘Prepare and Submit Online’ under ‘Submission Mode.’

STEP 4- The online ITR form will then appear. The ‘Return Filing Section’ can be found under the tab ‘General Information’ on that form. Select ‘Revised Return under Section 139 (5)’ from the drop-down menu, and then ‘Revised’ from the ‘Return Filing Form’ drop-down menu. 

STEP 5- The ‘Acknowledgement Number’ and ‘Date of Filing’ of the initial income tax return that you paid should then be entered. The acknowledgment number should be a 15-digit number that you will find when filing your taxes online. If you paid your income tax returns offline and the acknowledgment number is not a 15-digit number, suffix the acknowledgment number with ‘0′ as many times as necessary to make it a 15-digit number.

STEP 6- You’ll be able to apply details and fix mistakes in the initial return after you’ve entered the acknowledgment number and filing date.

STEP 7- You can file the amended income tax report online after you’ve completed all of the necessary corrections and editing.


The taxpayer must file a corrected return containing modifications and send it to the Income Tax Department if you find an error when filing your ITR. This can be done both online and offline. To file an e-File Revised Return, make sure the original filing was still completed online.

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