To err is human, and this holds true even when filing your Income Tax Return (ITR). You might discover after filing that you made a mistake—perhaps you forgot to report some income, claimed an incorrect deduction, or entered the wrong bank account details. The Income Tax Act provides a specific provision to correct such mistakes. This is where the concept of a revised return comes in. So, what is a revised ITR and when you should file it? A revised ITR, filed under Section 139(5) of the Income Tax Act, is a corrected return that you can file to replace your original ITR. For 2026, it is a crucial tool that allows you to rectify any errors or omissions in your original filing and ensure your tax records are accurate.
What is a Revised ITR? A Simple Definition
A revised Income Tax Return is a facility that allows a taxpayer to file their ITR again if they discover any mistake, omission, or wrong statement in the original return they have already filed. The revised return completely replaces the original return, and once it is successfully filed and verified, it is considered the final and correct return for that assessment year. It is a legal provision that gives you a second chance to make your tax filing accurate and compliant. You can revise your return for any genuine mistake, whether it is a simple error like a typo or a more significant one like failing to report a capital gain.
Who Can File a Revised ITR?
Any taxpayer who has filed their original income tax return can file a revised return. This includes taxpayers who filed their original return on time (before the due date) as well as those who filed a belated ITR (after the due date). The only prerequisite is that an original return must have been filed for that assessment year. You cannot file a revised return if you have not filed an original return at all.
Common Reasons for Filing a Revised ITR
You can revise your return for a wide variety of reasons. Some of the common scenarios include:
- Forgetting to report a source of income (e.g., interest from a savings account, income from a freelance gig).
- Realizing you have claimed a deduction incorrectly or missed claiming a deduction you were eligible for.
- Making a mistake in reporting personal information like your address, bank account details, or contact number.
- Forgetting to report capital gains from the sale of stocks or property.
- Errors in calculating the tax liability or interest.
- Receiving a Section 143(1) intimation from the tax department pointing out a mistake in your original return.
What is the Deadline for Filing a Revised ITR?
This is a crucial point to remember. The time limit for filing a revised return has been shortened in recent years. For the Assessment Year 2026-27 (corresponding to the Financial Year 2025-26), you can file a revised return under Section 139(5) at any time:
before three months from the end of the relevant Assessment Year, OR before the completion of the assessment, whichever is earlier.
Let’s break this down:
- The Assessment Year (AY) for income earned in FY 2025-26 is AY 2026-27, which ends on March 31, 2027.
- Three months before the end of the AY is December 31, 2026.
Therefore, the last date to file a revised ITR for AY 2026-27 is December 31, 2026. You must adhere to this deadline strictly.
How to File a Revised ITR: A Step-by-Step Guide
Filing a revised return is done through the same online portal as the original return. The process is as follows:
| Step | Action |
|---|---|
| 1. Log in to the e-Filing Portal | Go to the official Income Tax portal and log in with your PAN. |
| 2. Select the ITR Form | Go to ‘e-File’ > ‘Income Tax Returns’ > ‘File Income Tax Return’. Select the Assessment Year and the mode of filing. |
| 3. Choose ‘Revised Return’ | In the filing section, you will be asked the filing type. Here, you must select ‘Revised Return filed u/s 139(5)‘. |
| 4. Provide Original ITR Details | You will be required to enter the Acknowledgement Number and the date of filing of your original ITR. |
| 5. Fill the Corrected ITR Form | Proceed to fill the ITR form with the corrected and updated information. Ensure that all details are now accurate. |
| 6. Submit and E-Verify | Submit the return and, most importantly, e-verify it. A revised return is not considered valid until it is verified. Use an E-Verification Code (EVC) or Aadhaar OTP for instant verification. |
Frequently Asked Questions (FAQs)
1. How many times can I revise my ITR?
You can revise your return multiple times as long as you do it within the specified deadline (i.e., before December 31st of the assessment year). Each time you file a revised return, it will replace the previously filed return.
2. Is there a penalty for filing a revised ITR?
No, there is no penalty for filing a revised ITR to correct a genuine mistake. It is a facility provided by the law. However, if the revision results in a higher tax liability, you will have to pay the additional tax along with any applicable interest for the delay in payment.
3. I filed a belated ITR. Can I still revise it?
Yes. The law was amended to allow even a belated return (filed after the due date) to be revised. The deadline for revising a belated return is the same as for a regular return.
4. What should I do after filing a revised ITR?
After filing, you must e-verify the revised return within 30 days. Once verified, the IT Department will process it. The revised return will be considered the final return, and the original return will be treated as withdrawn.
5. Can I change from the old tax regime to the new tax regime in a revised ITR?
Yes, but only if you file the revised return within the original due date of filing (typically July 31st). If you are revising a belated return, you generally cannot switch between the tax regimes. It is advisable to consult a tax professional for specific cases.