Amendment of section 139

In force Act 4 of 2026 As on 05 Oct 2026

Act 4 of 2026 Ministry Finance

Section 5 of the Finance Act, 2026 deals with amendment of section 139. Amendment of section 139. 5. In section 139 of the Income-tax Act, with effect from the 1st day of March, 2026,— (a) | in sub-section (1), for Explanation 2, the following Explanation shall be substituted and shall be deemed to have been substituted, namely:— 'Explanation 2.—For the purposes of this

Amendment of section 139.
5. In section 139 of the Income-tax Act, with effect from the 1st day of March, 2026,—
(a) in sub-section (1), for Explanation 2, the following Explanation shall be substituted and shall be deemed to have been substituted, namely:—
'Explanation 2.—For the purposes of this sub-section, "due date" in respect of the persons mentioned in column B of the Table below, subject to the conditions as mentioned in column C of the said Table, shall be the due date of assessment year as mentioned in column D thereof:—
TABLE
Sl. No. Person Conditions Due date
A B C D
1. Assessee, including the partners of the firm or the spouse of such partner (if section 5A applies to such spouse). Where the provisions of section 92E apply. 30th November.
2.
(i) Company;
(ii) Assessee (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force;
(iii) partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force or the spouse of such partner (if section 5A applies to such spouse).
Where the provisions of section 92E do not apply. 31st October.
3.
(i) Assessee having income from profits and gains of business or profession whose accounts are not required to be audited under this Act or under any other law for the time being in force;
(ii) partner of a firm whose accounts are not required to be audited under this Act or under any other law for the time being in force or the spouse of such partner (if section 5A applies to such spouse).
Where the provisions of section 92E do not apply. 31st August
4. Any other assessee. 31st July.
(b) for sub-section (5), the following sub-section shall be substituted and shall be deemed to have been substituted, namely:—
"(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may, subject to the provisions of section 234-I, furnish a revised return at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.";
(c) in sub-section (8A),—
(i) in the first proviso, in item (i), after the words "return of a loss", the words "except in a case referred to in the sixth proviso" shall be inserted;
(ii) in the third proviso, in item (b), after the words "in his case", the words "except in a case referred to in the eighth proviso" shall be inserted;
(iii) in the sixth proviso, after the words "return of income", the words "or such updated return has the effect of reducing the loss" shall be inserted;
(iv) after the seventh proviso, the following proviso shall be inserted, namely:—
"Provided also that an updated return may be furnished by a person for the relevant assessment year in pursuance of a notice under section 148 within such period as specified in the said notice and in such a case, the assessee shall be precluded from filing return in pursuance of the said notice in any other manner.".
Section 5, The Finance Act, 2026 (Act 4 of 2026).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

Questions about Section 5

What does Section 5 of the Finance Act deal with?

Section 5 of the Finance Act is headed "Amendment of section 139". Amendment of section 139. 5. In section 139 of the Income-tax Act, with effect from the 1st day of March, 2026,— (a) | in sub-section (1), for Explanation 2, the following Explanation shall be substituted and shall be deemed to have been substituted, namely:— 'Explanation 2.—For the purposes of this

How do I find court cases under Section 5 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2026 5, section 5 Finance Act 2026, section 5 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 5 of the Finance Act, and has it changed?

Its own text turns on section 139 (Grant of immunity from penalty and prosecution), section 148 (Amendment of section 28J), Income-tax Act 139 (Return of income), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2026 as Act 4 of 2026. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. -11686 words
3. Income-tax under Act 30 of 20258033 words
Fourth Schedule. -4078 words
2. Income-tax under Act 43 of 19612736 words
26. Substitution of new sections for sections 276B, 276BB, 276C, 276CC, 276CCC and 276D1437 words
Fifth Schedule. -1363 words

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(a)		in sub-section (1), for Explanation 2, the following Explanation shall be substituted and shall be deemed to have been substituted, namely:—
		'Explanation 2.—For the purposes of this sub-section, "due date" in respect of the persons mentioned in column B of the Table below, subject to the conditions as mentioned in column C of the said Table, shall be the due date of assessment year as mentioned in column D thereof:—

(b)		for sub-section (5), the following sub-section shall be substituted and shall be deemed to have been substituted, namely:—
		"(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may, subject to the provisions of section 234-I, furnish a revised return at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.";
(c)		in sub-section (8A),—

(i)		in the first proviso, in item (i), after the words "return of a loss", the words "except in a case referred to in the sixth proviso" shall be inserted;
(ii)		in the third proviso, in item (b), after the words "in his case", the words "except in a case referred to in the eighth proviso" shall be inserted;
(iii)		in the sixth proviso, after the words "return of income", the words "or such updated return has the effect of reducing the loss" shall be inserted;
(iv)		after the seventh proviso, the following proviso shall be inserted, namely:—
		"Provided also that an updated return may be furnished by a person for the relevant assessment year in pursuance of a notice under section 148 within such period as specified in the said notice and in such a case, the assessee shall be precluded from filing return in pursuance of the said notice in any other manner.".