ITR
Revising a return to fix a mistake
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Facts
If you find an omission or wrong statement in a filed original or belated return, you can file a revised return under Sec 139(5) (now Sec 263(5)). For AY 2026-27 it is allowed up to 31 March 2027 or before assessment is completed.
Provisions and law
- Sec 139(5), Income-tax Act 1961 (now Sec 263(5), Income-tax Act 2025)Revised return can be filed if an omission or wrong statement is found, by 31 March of the assessment year (Finance Act 2026) or before assessment
- Sec 234-I, Income-tax Act 1961Fee of ₹1,000 or ₹5,000 for a revised return filed after nine months from the end of the year (inserted by Finance Act 2026; 2025 Act number to be confirmed)
Analysis
The revised return replaces the original fully, so include everything again, not just the change. Example: you forgot ₹38,000 of FD interest; revise, add it, pay the extra tax with interest, and e-verify. You need the acknowledgement number and date of the original. Revise before 31 December 2026 to avoid the new fee.
Conclusion
- Find the original acknowledgement number and filing date
- Prepare a complete corrected return
- Pay any extra tax and interest
- File choosing section 139(5) with the original details
- E-verify within 30 days
A Savvy can do this for you
Belated and revised return, Sec 263(4) and 263(5) (old 139(4) and 139(5))
₹1,499
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