139(1)-On or before due date, 139(4)-Belated,
139(5)-Revised, 119(2)(b)- After Condonation of delay

Section 139(1): On or Before Due Date

It requires that every person

being a company or a firm or
being a person other than a company or a firm,

if his total income or the total income of any other person in respect of which he is assessable under the Income-tax Act, during the previous year, exceeded the maximum amount which is not chargeable to income-tax shall, furnish a return of his income or the income of such other person.

Such return of income must be furnished on or before the due date, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed. Here "Due date" means

	Assessee	Due Date
(i)	Where the assessee, other than an assessee referred to in clause (ii), is a company, a person (other than a company) whose accounts are required to be audited under the Income-tax Act, 1961 or any other law in force; or a partner of a firm whose accounts are required to be audited under the Income-tax Act, 1961 or any other law for the time being in force or the spouse of such partner if the provisions of section 5A applies to such spouse.	31st October of the assessment year
(ii)	in the case of an assessee including the partners of the firm or the spouse of such partner (if the provisions of section 5A applies to such spouse), being such assessee who is required to furnish a report referred to in section 92E.	30th November of the assessment year
(iii)	in the case of any other assessee.	31st July of the assessment year

SECTION 139(4): Belated Return

Any person who has not furnished a return within the time allowed to him under section 139(1), may furnish the return for any previous year at any time -

before three months prior to the end of the relevant assessment year or
before the completion of the assessment year whichever is earlier

Thus, belated return can be filed only in case a person has not furnished his return within the time allowed under section 139(1). Also, the belated return cannot be furnished after the end of the relevant assessment year.

Consequences of filing a belated return

Certain losses cannot be carried forward for set-off in the subsequent years.
Fee of Rs. 5,000 under section 234F would be leviable where return is filed after the due date. However, late fee shall not exceed Rs.1,000 where total income does not exceed Rs 5,00,000.
Further, as per section 80AC, deductions in respect of certain incomes under Chapter VI-A [Heading C- Deduction in respect of certain incomes] would not be available.

SECTION 139(5): Revised Return

If any person having furnished a return under section 139(1) or section 139(4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before three months prior to the end of the relevant assessment year or before completion of assessment, whichever is earlier.

The return can be revised for any number of times within the given time. In this case the latest revised return filed replaces all other returns filed earlier. It may be noted that the returns filed under sub-sections (1A), (3), (4A) to (4F) of section 139 are treated as having been filed under section 139(1). Hence, these returns can also be revised subject to satisfying the conditions of section 139(5).

SECTION 119(2)(b): After Condonation of delay

It provides a remedy for the assessee in genuine cases of delay in filing their returns. For cases where assessee could not file their Income Tax returns within time due to genuine hardship, Income Tax Act has section 119(2)(b) read with circular no 09/2015 dated 09-06-2015, as mechanism provision for condonation of delay in filing of return.

The power to accept/reject the application by the prescribed income-tax officer in case of such claims will be subject to the conditions.

Time limit for filing application

No authority shall entertain condonation application for claim of refund/loss beyond six years from the end of the assessment year. A condonation application should be disposed of within six months from the end of the month in which the application is received by the competent authority, as far as possible.
In a case where refund claim has arisen consequent to a Court order, the period for which any such proceedings were pending before any Court of Law shall be ignored while calculating the said period of six years, provided such condonation application is filed within six months from the end of the month in which the Court order was issued or the end of financial year whichever is later.

A condonation application must be disposed of within six months from the end of the month in which the application was received by the competent authority, as far as possible. It is pertinent to note that this time limit is recommendatory and not mandatory.

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CHETNAA GOYAL

Chetnaa Goyal one of the co-founder of TaxSmooth. An Qualified Chartered Accountant. More than 12 years of Experience in Direct Taxation. having own Taxation Practice in Delhi. Expertise in Income Tax Cases, Return filing, Tax Planning, Tax Advisory etc.

Section 139(1), 139(4), 139(5), 119(2)(b)

139(1)-On or before due date, 139(4)-Belated,139(5)-Revised, 119(2)(b)- After Condonation of delay