Answer

1. F

   Facts

   For AY 2026-27 a return can be revised up to 31 December 2026 if the original was filed. A revised return replaces the original, so it can include the missed income. It is still wise to answer the notice so the record shows your position.

2. P

   Provisions and law

   • Sec 139(5) (now Sec 263(5))A filed return can be revised if you find an omission or wrong statement, within the time allowed
   • Sec 143(1)(a) (now Sec 270(2))CPC can adjust the return for listed reasons, but must first tell you and consider a reply given within 30 days
3. A

   Analysis

   Revision under Sec 139(5) (now Sec 263(5)) is allowed for any omission or wrong statement, and CPC then processes the revised return. If you agree with the variance, a revised return with the extra income and tax paid is a tidy fix, and you can choose Agree in the notice too. Finance Act 2026 changes to the revision window and a fee for late revisions have been reported, so check the latest position before relying on dates after 31 December 2026. Revision cannot be used once the year is assessed.

4. C

   Conclusion

   1. 1Pay the extra tax and interest first through e-Pay Tax.
   2. 2File the revised return selecting Sec 139(5) and quote the original acknowledgement.
   3. 3E-verify within 30 days.
   4. 4Answer the notice too, choosing Agree where relevant.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.