Section 139 of the Income Tax Act, 1961 governs the filing of income tax returns (ITR) by different categories of taxpayers in India. It mandates individuals, firms, companies, and other entities to declare their income, calculate tax liability, and file returns within the prescribed due dates. This section is one of the most crucial compliance requirements under Indian tax law.
Filing the return under this section is essential to:
👉Report income to the government
👉Claim tax deductions and refunds
👉Carry forward losses
👉Avoid penalties and interest

Types of Returns

✅ Section 139(1) – Mandatory / Voluntary Return
👉 Applicable to individuals, HUFs, companies, LLPs, and other persons.
It is mandatory if:
🔹 Total income exceeds the basic exemption limit
🔹The person holds foreign assets or has signing authority outside India
🔹Other specific conditions notified by the CBDT are met
🔹Even if income is below the exemption limit, returns can be filed voluntarily.

✅ Section 139(3) – Return of Loss
🔹Applicable when the assessee incurs losses under “Profits and Gains of Business or Profession” or “Capital Gains”
🔹Filing within the due date under this section allows carry forward of such losses to future years.

✅ Section 139(4) – Belated Return
🔹If return under section 139(1) is not filed within due date, it can still be filed after the due date but before the end of the relevant Assessment Year or completion of assessment (whichever is earlier)
🔹Late fee under section 234F and interest under 234A/B/C may apply

✅ Section 139(5) – Revised Return
🔹Filed when the assessee discovers any omission or wrong statement in the original return
🔹Can be filed before 31st December of the relevant Assessment Year or completion of assessment (whichever is earlier)

✅ Section 139(9) – Defective Return
🔹When a return is found to be incomplete or incorrect, the AO (Assessing Officer) may serve a notice
🔹The assessee must rectify the defect within 15 days, else the return is treated as invalid

Consequences of Non-Filing
❌ Late fee up to ₹5,000 under Section 234F
❌ Interest under Sections 234A, 234B, and 234C
❌ Penalty under Section 270A (up to 50%-200% for underreporting)
❌ Ineligibility to carry forward losses
❌ Prosecution in cases of willful evasion

🧾 Forms Applicable for Filing ITR