Revising a belated return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2009 I have recently discovered that some self assessment tax is payble by me for FY 2008-09. Unfortunately my tax return was filed under sexction 139(4)about 12 days after due date on 12th Aug 2009. Hence as I understand I can not file revised returns under sec 139(5).In such case, is it advisable to still file a revised return and pay remainder tax with interest to avoid any penalty in future.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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17 November 2009 Belated return can't be revised but you should pay the tax with interest immediately so that even caught in assessment later you can avoid the higher interest till the date of assessment.

As an experimental case you can e file the revised return with correct data.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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17 November 2009 you should go for revision.

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2009 Even if I pay belated tax with interest immediately, then possibily I can avoid levy of interest from date of paying tax till date of assessment in future. But saving interst is not so significant, as is the penalty , which I understand is 300% of tax evaded. Hence my queries are- (1) Do I get any releif in penaly? (2)During any future assessment, will it still be considered as EVASION OF TAX, althought I have already paid it before assessment? (3) Moreover would you clarify under which section penalty is leviable?

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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22 July 2025 Here’s a clear summary addressing your concerns about revising a belated return and the related penalty & interest issues:

1. Can you revise a belated return filed under section 139(4)?
No, a belated return (filed after due date under section 139(4)) cannot be revised under section 139(5).
The law allows revision only for returns filed within due dates.
2. Should you still file a revised return?
Technically, revised return won’t be accepted since it’s belated.
However, paying the remaining tax along with interest immediately is advisable to reduce interest burden and penalty risk later.
Filing a revised return might be rejected, but paying tax & interest is key.
3. Penalty & interest implications:
Interest: Under Section 234A, 234B, 234C, interest is payable on delayed tax payments.
Penalty: Penalty under Section 271(1)(c) can be levied for concealment or misreporting.
If you pay the tax with interest before assessment, the penalty may be reduced or waived by the Assessing Officer (AO) at their discretion.
Early payment and voluntary disclosure reduces chances of penalty and classification as “tax evasion.”
4. Answers to your specific queries:
(1) Do you get relief in penalty?
Possibly yes, if tax and interest are paid before the issue of notice or assessment, AO may grant relief or reduce penalty.
(2) Will it be considered tax evasion in future assessments if you paid tax & interest?
Generally, if you voluntarily disclose and pay tax before assessment, it’s not treated as willful evasion. But if AO suspects concealment, penalty can still apply.
(3) Under which section is penalty leviable?
Primarily Section 271(1)(c) for concealment of income or furnishing inaccurate particulars.
What you should do:
Pay the outstanding self-assessment tax along with applicable interest immediately.
Keep proof of payment.
If possible, submit a written explanation/letter with payment indicating voluntary disclosure.
Cooperate during any future assessments to minimize penalty risks.

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