Revised Return Overview: Section 139(5) allows taxpayers to correct errors or omissions in their tax returns.
Key Points:
Replaces original return.
Filed in response to notice or self-discovered inaccuracies.
Must select filing section 139(5) and provide original return details.
Can be filed even after due date.
Mandatory e-verification within 30 days.
When to File Revised Return:
Self-discovered errors or omissions.
In response to notice for proposed adjustments or defective return.
Time Limit:
Within 3 months before assessment year end or completion of assessment, whichever is earlier.
Steps to File:
Log in to e-filing portal.
Select assessment year, filing details, and attach JSON file.
E-verify within 30 days.
Receive success message upon submission.