Revised Return under Income Tax Act 1961

Revised Return under Income Tax Act 1961 - Banner Image

If you have filed your Income tax return and later on discover any omission or any wrong statement therein, you can correct this by filing a revised return. Section 139(5) of Income Tax Act, 1961 allows taxpayers to rectify their ITR at any time before three months prior to the end of the relevant assessment year or before completion of assessment, whichever is earlier. any mistake or omission such as Change of Particulars, submission of wrong ITR form, change in head of income, increase/decrease of income, claiming TDS, etc. can be made in such Revised Return.

Who can file Revised Income Tax Return:

Any Person who has earlier filed his Original ITR (u/s 139(1)) can revise and furnish a Revised Income Tax Return. From FY 2016-17 belated return that is return filed after the due date(u/s 139(4)) can also be revised. earlier only those returns can be revised which were filed on or before the due date.

How to File Revised Income Tax Return:

The process of filing revised return is the same as filing a fresh ITR with few changes. Here one has to select the section under which the ITR is to be filed by choosing ‘Revised Return under Section 139(5)’ and enter 15-digit ‘Acknowledgement Number’ and ‘Date of Filing’ of the original income tax return filing in Mumbai. You can file the revised return online or with the help of Income tax offline utility where you can import the json/xml file of the original return and make necessary changes and generate revised json/xml to upload on the portal.

Time Limit for filing Revised Income Tax Return:

After filing the original return under section 139(1) or Belated return u/s 139(4), one can file Revised return during  any time before three months prior to the end of the relevant assessment year or before completion of assessment, whichever is earlier.

For Financial Year 2021-22, revised return can be filed before 31st Dec 2022 or completion of assessment whichever is earlier.

Things to be considered while filing revised Return:

Though the option to revise your return enables you to rectify any mistake in the return, it is advisable to avail this option with care. Excessive modification specially in Income or Deduction may increase the chances of choosing one’s file for scrutiny.

What is the remedy to make the changes after time period mention u/s 139(5)

Through the newly introduced ‘ITR-U’, the assessee can update his return within 24 months from the end of the assessment year on payment of additional tax and interest.


there is no fees on the Income tax portal for filing revised return

It can be filed multiple time, but it is advisable to avoid that.

Yes, It needs to be E-verified after submission to complete the process for income tax filing in mumbai.

Yes, a revised return will be considered as a final return.

Yes, Revised return can be filed after receiving intimation u/s 143(1).