Revised Return (Section 139(5)): Your Safety Net for ITR Errors

You’ve gathered your documents, filled out your Income Tax Return (ITR), and clicked the "submit" button. But a few hours later, you realize you forgot to report some interest income, claimed an incorrect deduction, or made a typo in your bank account number.

Don't panic! Making a mistake is common, and thankfully, the Income Tax Act offers an easy way to correct it. It’s called filing a Revised Return. This option is a safety net for honest taxpayers, allowing you to fix errors and make sure your tax records are correct without facing penalties.

This guide will explain everything you need to know about revising your ITR for the Assessment Year 2025-26.

What is a Revised Return?

A Revised Return, filed under Section 139(5) of the Income Tax Act, is a corrected version of your original ITR. When you file a revised return, it completely takes the place of the one you submitted. The Income Tax Department will then treat this new return as your final one.

You can revise your return for any omission or mistake, whether it was intentional or accidental.

Common Reasons to File a Revised ITR

You can revise your ITR for many mistakes. Some of the most common ones include:

• Incorrect Personal Information: Typos in your name, address, email, or phone number.
• Forgetting to Report Income: Overlooking interest from savings accounts or fixed deposits, rental income, or capital gains.
• Incorrect Deductions Claimed: Claiming a deduction under the wrong section or for the wrong amount (e.g., claiming ₹1.6 lakhs under 80C instead of the maximum ₹1.5 lakhs).
• Forgetting to Claim a Deduction: Not claiming deductions for things like health insurance (80D), education loan interest (80E), or donations (80G).
• Wrong Bank Account Details: Providing an incorrect bank account number or IFSC code, which can delay or prevent your refund.
• Mismatch with Form 26AS/AIS: Forgetting to report income that is already in your Annual Information Statement (AIS).
• Change in Residential Status: Incorrectly stating your residential status.
• Choosing the Wrong ITR Form: Filing ITR-1 when you have capital gains and need to use ITR-2.

Who Can File a Revised Return and What is the Deadline?

Who is eligible? Anyone who has already filed their original income tax return can file a revised return. You can’t file a revised return if you haven’t filed the original one first.

What is the deadline? You can file a revised return anytime on or before three months before the end of the relevant Assessment Year, or before the assessment is complete, whichever comes first.

Let’s simplify that:

For the Financial Year 2024-25, the relevant Assessment Year is 2025-26.
The Assessment Year 2025-26 ends on March 31, 2026.
Three months before this date is December 31, 2025.
Therefore, the last date to file a revised ITR for AY 2025-26 is December 31, 2025.

You can revise your return multiple times by this deadline. Each new revised return will replace the previous one.

Step-by-Step Guide to Filing a Revised ITR Online

The process is very similar to filing your original return, with one key difference. Here’s how you can do it on the new e-filing portal:

1. Step 1: Log in to the e-Filing Portal

   Visit the official Income Tax e-filing website (www.incometax.gov.in) and log in with your PAN as the User ID and your password.

2. Step 2: Navigate to File Your Return

   Go to e-File > Income Tax Returns > File Income Tax Return.

3. Step 3: Select the Assessment Year and Filing Type

   Select the correct Assessment Year (e.g., 2025-26).

   This is the most important step: For "Filing Type," select "Revised Return (u/s 139(5))."

4. Step 4: Provide Original Return Details

   The system will ask you to enter the Acknowledgement Number (a 15-digit number) and the Date of Filing of your original ITR. You can find these in the acknowledgement receipt (ITR-V) of your original filing.

5. Step 5: Select the ITR Form and Proceed

   Choose the appropriate ITR Form and your reason for filing. Fill out the return.

6. Step 6: Correct the Information and Fill the Form

   The portal will pre-fill some data from your original return. Carefully review all sections and make necessary changes. Important: You must fill out the entire form again with the updated information, not just the section you are correcting.

7. Step 7: Validate and Verify Your Return

   After entering all the details correctly, validate your return. If there are any errors, the system will highlight them for you to fix. Once validated, proceed to verification. The simplest and recommended way is to e-verify using Aadhaar OTP.

8. Step 8: Submit the Revised Return

   Once you submit and e-verify your revised return, you will receive a new acknowledgement number for this filing. Download and save this new ITR-V for your records.

What Happens After You File a Revised Return?

• It Replaces the Original: The revised return is the final and correct return. The IT department will process this new return and disregard the old one.
• Impact on Tax/Refund:
  • If the revision results in a higher tax liability, you must pay the extra tax (plus any applicable interest) before filing.
  • If the revision leads to a refund, it will be processed based on the new information.
  • If there’s no change in tax liability, your financial records will just be corrected.

Final Thoughts

The option to file a revised return is a useful tool that emphasizes correctness over penalties. It gives you a chance to correct mistakes. So, if you’ve made an error, take a breath and follow these steps to fix it before the deadline.

If the process seems overwhelming or you want to make sure it’s done perfectly, our experts at myITRonline can help you file your revised return smoothly and with peace of mind.

Don't let errors hold you back from correct compliance!

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