Return to be Filed under which Section? - Income Tax

While

filing income tax returns, one of the mandatory fields that must be completed by the taxpayer is "Return filed under Section". In this article, we look at the different types of return filed under section categories and the meaning of each category.

Return Filed Under Section 139(1)

If you are filing your income tax return within due date, i.e. on or before 31 July in case of individuals, this option should be selected.

Return Filed Under Section 139(4)

If an income tax return is not filed within due date before 31st July under Section 139(1), it can still be late filed before the end of the assessment year or 31st March. When an income tax return is being filed after the due date but within the end of the assessment year, under Section 139(4) must be selected.

Return Filed Under Section 139(5)

In case of any omission or wrong statement in the return filed under Section 139(1) or 139(4), a revised return can be filed at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. Hence, when a revised return is filed, then under Section 139(5).

Return Filed Under Section 139(9)

A defective return is rectified pursuant to a notice issued by the Assessing Officer.

Return Filed Under Section 142(1)

A return is required to be filed pursuant to a notice issued by the Assessing Officer where a return has not been filed.

Return Filed Under Section 148

The income tax return is filed pursuant to a notice issued by the Assessing Officer where the income has escaped assessment.

Return Filed Under Section 153A

The income tax return is filed pursuant to a notice issued by an Assessing Officer where a search is conducted or requisition is made.

Return Filed Under Section 153C

Where an Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing or book of account or documents seized or requisitioned belong to any person, other than the person from whom it is seized during the conduct of a search, then the books of accounts or documents or assets seized or requisitioned should be handed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer should proceed against such other person and issue such other person a notice and assess or reassess income of such other person. An income tax return filed pursuant to such a notice issued by the Assessing Officer will be covered under this option.

Return Filed Under Section 92CD

A modified return is to be filed for an assessment year relevant to a previous year to which an advance pricing agreement is entered in terms of Section 92CC. The modified return is to be filed within a period of three months from the end of the month in which the said agreement was entered into under Section 92CD.

Return Filed Under Section 119(2)(b)

To help taxpayers with genuine hardship the CBDT may authorise the income-tax authority to admit a belated application or claim for any deduction, exemption, refund or any other relief even after the expiry of the period specified under the Act for making such claim or application. To know about the concept of

ITR-2 Return Filing. Click here.

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Frequently Asked Questions

Common questions about Return Filed Section.

Under Section 139(1), the return is filed within the due date, which is on or before July 31 for individuals. On the other hand, under Section 139(4), the return is filed after the due date but before the end of the relevant assessment year (March 31).

A taxpayer should file a return under Section 139(5) when they need to file a revised return to correct any omission or wrong statement in the original return filed under Section 139(1) or 139(4). This revised return can be filed anytime before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

A return filed under Section 139(9) is to rectify a defective return pursuant to a notice issued by the Assessing Officer. This means that if the Assessing Officer finds any defect or discrepancy in the original return filed by the taxpayer, they will issue a notice, and the taxpayer will have to file a rectified return under Section 139(9).

A return is filed under Section 142(1) when the taxpayer has not filed a return, and the Assessing Officer issues a notice requiring the taxpayer to file a return.

A return filed under Section 148 is filed pursuant to a notice issued by the Assessing Officer when the income has escaped assessment. This means that if the Assessing Officer believes that the taxpayer has not disclosed or reported certain income, they can issue a notice under Section 148, and the taxpayer will have to file a return disclosing the escaped income.

A taxpayer would file a return under Section 153A when an Assessing Officer conducts a search or requisition and issues a notice to the taxpayer to file a return. This typically happens when the Assessing Officer suspects that the taxpayer has undisclosed income or assets.

A return filed under Section 153C is applicable when an Assessing Officer is satisfied that any money, bullion, jewelry, or other valuable article or thing, or book of account or documents seized or requisitioned belong to someone other than the person from whom it was seized during a search. In such cases, the Assessing Officer having jurisdiction over the other person will issue a notice, and the other person will have to file a return under Section 153C.

A return is filed under Section 92CD when a taxpayer needs to file a modified return for an assessment year relevant to a previous year for which an advance pricing agreement is entered into under Section 92CC. The modified return must be filed within three months from the end of the month in which the agreement was entered into.

A return filed under Section 119(2)(b) is applicable when the Central Board of Direct Taxes (CBDT) authorizes the income tax authority to admit a belated application or claim for any deduction, exemption, refund, or any other relief even after the expiry of the specified period under the Act. This provision helps taxpayers who faced genuine hardship in filing their claims or applications on time.

No, a taxpayer can only file a return under one specific section at a time. The section under which the return is filed depends on the specific circumstances and reasons for filing the return, as outlined in the different sections mentioned in the article.