Belated and Revised Return

Impressed return means delayed return installation. If the taxpayer does not submit a refund within the due date as specified, or within the time allowed under the notice issued by the inspecting officer, there is a need to submit the tax returns. If the viewer finds any omissions, errors or incorrect statements, an updated return may be added. In this article, we look at the process of filing registered and updated tax returns.

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1. Due Date for Filing Income Tax Returns

The deadline for submitting income and self-employment tax returns is 31 July each year. In the event that a company or other person requires a Tax audit , the due date for submission of income tax returns will be 30 September each year.

2. Due date for Filing of Belated Returns

Refunds may be deposited before the end of the relevant testing year or before the completion of the test, whichever is earlier.

3. Penalty for Late Filing Income Tax Returns

It is always advisable to keep time with regard to the introduction of income tax. The new Income Tax laws, effective from this financial year (2017-18), specify a fine of Rs. 5000 refunds filed after the due date and before the 31st of December. If refunds are not made during this period, a fine of Rs 10,000 will apply. The income tax levy will apply to all people whose income is more than 5,00,000. People earning less than 5,00,000 can be fined Rs 1000. In addition, the delay in completing the refund makes it impossible to continue any further losses in the following year.

4. When to file a Revised Income Tax Return?

Revised returns are included in any omissions, errors or incorrect statements made by an observer during the submission of tax returns. It should be noted that only unintentional errors are allowed to be reviewed. The revised version has no place to hide or a false statement.

5. Due Date for Filing of Revised Returns

Revised returns may be lodged before the end of one year from the relevant testing year or before the completion of the test, whichever

6. How many times can revised return be filed?

Revised refunds can be filed over and over, the limit is limited to date mode, which means that updated refunds can be filed at any time, up to a set date. In addition, certain refunds may be reviewed despite the same refund.

7. Revising of Belated Returns

Belated Refunds listed under Section 139 (4) may be reviewed. This applies to the reimbursement of the 2016-17 inspection year onwards, not earlier as Revenue tax laws were different before this period.

8. Revised Return’s Impact on Carrying Forward Losses

The revised refund results will replace the actual refund, which means that the loss or revenue that has just been calculated will be used from now on, and the loss as renewed in the revised income will be carried forward.

9. Important Judicial Decisions Relating to Revised Income

The following are some of the judgment decisions related to the revised revenue:

  • The mere discovery of the issue / error would not be a revised revenue, but the actual ignorance or error may qualify for a revised refund under Section 139 (5).
  • Errors / omissions must be identified by an eyewitness. Any interference found by the inspecting officer shall not be a revised refund under Section 139 (5).
  • Revised returns may not be included when the recipient simply changes the status and year of accounting or thus the method of accounting.

Frequently Asked Questions

Q- How to correct a submitted income tax return?

You can adjust your tax return by submitting a tax return.


Q- Can I file a revised income tax return?

Yes, any taxpayer may file a revised tax return if the refund is filed before the end of the probationary year or before the end of the refund test, whichever is earlier.


Q- By when can the revised return for AY 2019-20 be filed?

Revised returns for the 2019-20 inspection year may be lodged before or before 31 March 2020 or the completion of the original return test, depending on the previous one. Take professional help to avoid further delays.


Q- What if the revised return has some errors in it?

If the revised version has errors, you can install another updated return within the allotted time to fix it.


Q- Do I need to e-verify the revised ITR which I file?

Yes, the revised ITR also needs an e-verification to complete the tax filing process.


Q- How many times returns can be revised?

You can update your income tax return as many times as you want. The Tax Department does not specify the number of non-renewable refunds It is recommended that you submit a return form (if applicable) only once, with all updates required to be covered.


Q- What is the last date to file a revised return ?

Subject to Sec 139 (5), a re-examination person may file a revised refund before the end of the relevant examination year or before the completion of the examination, depending on the previous one.


Q- How do I correct a defective income tax return?

Defective return can be corrected by completing the updated return.


Q- Who can file a revised return?

A person who submits the original tax return on or before the due date may submit revised tax returns before the completion of the relevant AY or before the completion of the assessment.


Q- Where can I show the refund amount I got while filing Revised Income Tax Return Under Section 139(5)?

The amount of refund received does not need to be reflected on the revised tax return. You just need to enter the ITR as usual and the Income Tax Department will check this automatically during the ITR processing. Refunds already issued will be processed with the refund required from the ITR.


CEO Krishna Gopal

Krishna Gopal Varshney is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Myitronline is amongst the top emerging startups of Asia and authorized ERI by the Income Tax Department. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. ”

Krishna Gopal Varshney
Co-founder & CEO