Section 139(5) of the I-T Act

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This query is : Resolved

Quick Summary

Section 139(5) of the Income Tax Act allows individuals to file a revised income tax return if they discover any omissions or incorrect statements after their initial filing. This provision enables taxpayers to rectify errors or overlooked details in their original Income Tax Return (ITR). Importantly, a revised return can be filed even if the original return was submitted after the due date.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

18 January 2020 Respected Sir,

What is the definition of Section 139(5) of the I-T Act ? As in which situation support of Section 139(5) of the I-T Act is taken ? Please guide me and oblige.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

19 January 2020 Section 139(5) of the I-T Act states that after filing their return, if someone discovers any omission or wrong statement, he can furnish a revised return. Revised return allows you to rectify the error or omission of facts made at the time of filing your original ITR

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

19 January 2020 Respected Raman Sir, Rgds to you, The ITR has been filed in Oct 2019 after the due date whether even in such case the return can be revised u/s 139 (5).

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

19 January 2020 Yes it can be revised.

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