The Section 139 return filing due date is a crucial compliance requirement under the Income Tax Act, 1961. If an assessee fails to file the Income Tax Return (ITR) on time, it may result in late fees, loss of deductions, and restrictions on carrying forward losses. This article explains Section 139(1), belated return under Section 139(4), revised return under Section 139(5), and condonation of delay under Section 119(2)(b).
Section 139(1): On or Before Due Date
- 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, he 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 set 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
|
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 apply 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
- before three months prior to the end of the relevant assessment year or
- before the completion of the assessment year, whichever is earlier
Consequences of filing a belated return
- Certain losses cannot be carried forward for set-off in the subsequent years.
- A fee of Rs. 5,000 under section 234F would be leviable where the return is filed after the due date. However, the late fee shall not exceed Rs.1,000 where total income does not exceed Rs.500,000.
- 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.
SECTION 119(2)(b): After Condonation of delay
The power to accept/reject the application by the prescribed income-tax officer in case of such claims will be subject to the conditions.
- No authority shall entertain a condonation application for a 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 a 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 a condonation application is filed within six months from the end of the month in which the court order was issued or the end of the financial year, whichever is later.
