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People often make mistakes—whether knowingly or unknowingly—while filing their Income Tax Return (ITR); errors such as reporting incorrect income or providing wrong bank details are common. Since anyone can make such mistakes, the Income Tax Department provides a second chance to rectify them by filing a 'Revised Return' under Section 139(5).

**Second chance under Section 139(5)**
This section allows you to file a revised return if you discover an error or omission after submitting your original ITR. A revised return replaces your original ITR; however, this provision is intended for genuine mistakes, not for tax evasion.

**Common ITR errors**
Incorrect income details
Omission of bank interest income
Missed deductions (under Sections 80C, 80D, etc.)
Selecting the wrong ITR form
TDS details not matching Form 26AS
Incorrect bank account details for refunds

**Deadline information**
According to *The Economic Times*, the deadline for filing a revised return for an assessment year is currently December 31st; however, the Budget 2026 has extended this to March 31st. Missed that deadline too? You can still file an 'Updated Return' (ITR-U) within 48 months, subject to the payment of additional tax and interest.

**How ​​to file a Revised Return**
Log in to the e-filing portal
Select the Assessment Year
Choose 'Revised Return' under Section 139(5)
Enter the acknowledgment number of your original ITR
Correct the errors

Submit and e-verify
**Revised Return vs. Rectification: They are not the same**
You file a revised return (under Section 139(5)) to correct errors. On the other hand, rectification (under Section 154) corrects errors made by the tax department—usually following an intimation notice—so do not confuse the two.

What happens if you ignore the error?
It could lead to delayed refunds, interest on unpaid taxes, notices, penalties, and even scrutiny. You can revise your ITR as many times as you wish, provided it is done within the deadline; each new revision replaces the previous one. However, try to get it right the first time, as frequent revisions can raise red flags.

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