Many times, knowingly or unknowingly, some people make mistakes while filing ITR (Income Tax Return), it is common to make mistakes like entering wrong income or wrong bank details. This mistake can be made by anyone, hence the Income Tax Department gives a second chance to correct these mistakes through revised return under Section 139(5).
Second chance under section 139(5)
This section allows you to file a revised return, if you find any mistake or omission after filing your original ITR, then the revised return replaces your original ITR but this is for genuine mistakes, not for tax evasion.
Mistakes in ITR
- wrong income details
- missing out on bank interest income
- Missing out on deductions (80C, 80D etc.)
- Choosing the wrong ITR form
- TDS not matching with Form 26AS
- Wrong bank account for refund
Deadline information
According to the Economic Times, the revised return currently has to be filed by 31st December of the assessment year, which has been extended to 31st March under Budget 2026. Did he miss it too? You can still file an updated return (ITR-U) with additional tax and interest within 48 months.
How to file Revised Return
- Login to e-filing portal
- Select assessment year
- Select revised return under section 139(5)
- Enter your original ITR acknowledgment number
- fix mistakes
- Submit and e-verify
Revised Returns vs Rectification: Both are not the same
You file a revised return (section 139(5)) to correct mistakes. Rectification (Section 154), on the other hand, corrects mistakes made by the tax department, usually after an intimation notice, so don’t get confused between the two.
What if you ignore the mistake?
There may be late refunds, interest on unpaid taxes, notices, penalties, and even scrutiny. You can review the ITR as many times as you want, as long as it is within the deadline. Each new revision replaces the previous revision. Still, try to get it right the first time, frequent revision may raise alarm bells.
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