Section 139 Income Tax Act - Return of Income and Filing Rules
Section 139 of the Income-tax Act, 1961 governs filing of income-tax returns for assessment years covered by that Act. From 1 April 2026, section 263 of the Income-tax Act, 2025 consolidates rules on original, belated, revised and updated returns for tax years beginning under the new Act.
Who must file an income-tax return?
Under section 139(1), companies and firms must generally file returns even when reporting losses. Other taxpayers generally must file when income, tested under the applicable statutory rules before specified deductions or exemptions, crosses the basic exemption threshold. Additional filing requirements apply to specified foreign assets, foreign accounts, high-value transactions, and certain entities irrespective of ordinary income thresholds.
Under section 263(1) of the 2025 Act, compulsory filing extends to companies, firms, specified entities, universities and other covered institutions, business trusts, investment funds, persons claiming carry-forward of specified losses, and certain residents with foreign assets or signing authority. Some categories must file regardless of profit or loss.
Statutory filing due dates
The ordinary statutory dates depend on taxpayer category, the applicable assessment or tax year, audit requirements and transfer-pricing reports. Extensions announced by CBDT can change the actual deadline for a particular year.
| Category | Ordinary due date |
|---|---|
| Individual or other taxpayer not subject to audit or a special category | 31 July |
| Company, audited taxpayer, and covered partners where transfer-pricing report rules do not apply | 31 October |
| Taxpayer required to furnish transfer-pricing report | 30 November |
For AY 2026-27 and later years, verify the precise applicable deadline and any extension on the official e-filing portal. The 2025 Act states due dates in section 263(1)(c), subject to applicable amendments and notifications.
Types of returns and relevant provisions
Original return - section 139(1) / section 263(1)
The initial return filed by the statutory due date in the prescribed form, with required verification and particulars.
Return of loss - section 139(3)
To carry forward specified business or capital losses, a timely loss return is generally required, subject to exceptions and specific carry-forward provisions. The 2025 Act addresses the relevant filing requirement within section 263(1).
Belated return - section 139(4) / section 263(4)
A taxpayer who misses the original due date may file a belated return within the applicable statutory window, or before completion of assessment if earlier. The exact deadline must be checked for the relevant assessment or tax year.
Revised return - section 139(5) / section 263(5)
A revised return corrects an omission or wrong statement in an eligible previously filed return. Under the 2025 Act, the period is generally twelve months from the end of the relevant tax year, or before completion of assessment, whichever is earlier, subject to the operative statutory text.
Updated return - section 139(8A) / section 263(6)
Subject to exclusions and additional tax requirements, an updated return can be filed within the statutory extended period, generally up to 48 months from the end of the relevant assessment year under the 1961 Act, or from the end of the financial year succeeding the relevant tax year under the 2025 Act. An updated return generally cannot be used to reduce tax liability or increase a refund, and restrictions apply in search, survey and other specified cases.
Defective return - section 139(9) / section 263(7)
The Assessing Officer may notify defects and generally allow 15 days for rectification, with a possible extension. An unrectified defective return may be treated as invalid, subject to the statutory power to condone certain delayed rectifications.
Special filing obligations and disclosures
Section 139 also covers returns of charitable or religious trusts, political parties, research bodies, specified institutions, universities, business trusts and investment funds. The relevant provisions include subsections (4A) to (4F), subject to amendments for the applicable assessment year. Returns may require information about exempt income, foreign assets, bank accounts, audit particulars and other prescribed disclosures.
Residents who are ordinarily resident and hold foreign assets or signing authority may have a filing obligation even where their taxable income is below the ordinary threshold; the statutory beneficiary exception should be checked. High-value transaction conditions under the 1961 Act include specified current-account deposits, foreign travel and electricity spending, as well as prescribed additional conditions.
Consequences of late filing
Depending on the circumstances, late filing may trigger interest under section 234A, a fee under section 234F, restrictions on carrying forward certain losses, delayed refunds, or other statutory consequences. Payment of tax and return filing are separate obligations; filing an updated return can also attract additional tax under the applicable provisions.
Historical provisions in the earlier text
Older versions of section 139 included return filing through employers, electronic filing schemes involving obsolete physical media, an earlier interest mechanism under section 139(8), and a requirement concerning earlier years. Those historical descriptions are not current filing instructions. The present article retains their legal context without treating repealed or superseded procedures as operative.
Official statutory text and filing resources
- Income Tax Department: Return of income under the 1961 Act
- Income Tax Department: Section 263 of the Income-tax Act, 2025
- Income Tax Department: Transition and ITR FAQs
- Official Budget 2026 explanatory FAQs
- Official income-tax e-filing portal
Frequently asked questions
Does the 2025 Act apply to the FY 2025-26 return?
No. The return for FY 2025-26, corresponding to AY 2026-27, remains governed by the 1961 Act under the transition rules.
Can I correct a filed return?
Yes, if the return and timing satisfy the revised-return provisions. An updated return may be another option but is subject to important exclusions and additional tax.
Must a company file even if it has a loss?
Generally yes. Companies and firms are subject to mandatory filing requirements even if income is nil or a loss is reported.
Last reviewed: 26 October 2026. This article is an explanatory guide; consult the operative statute, rules and CBDT notifications for the relevant year.