Section 139 Income Tax Act – Applicability, Due Dates

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income taxSection 139 Income Tax Act – Applicability, Due Dates

The Indian Taxation Act considerably measures the functioning of the Indian Financial System that primarily introduce under the Income Tax Act 1961.  

Different Sub-sections under Section 139 Income Tax Act 1961

  • Sec 139(1) – Mandatory and Voluntary Returns
  • Sec 139(4) – Late Income Tax Return
  • Sec 139(5) – Revised Return
  • Section 139(9) – Defective Returns

Due Dates For Section 139 Income Tax Act

The Due Dates for Section 139 under the Income Tax Act 1961 are-

July 31

September 30

To gather more information about the features of Section 139 Income Tax act, visit the Dialabank website.

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Section 139(1) deals and voluntary returns 

  • In case of the total annual income earned by an individual exceeds the limit to file Income Tax Return before the time period. 
  • In the case of a private, domestic, public, or foreign company, the business is located in India. It is required to file Income Tax.
  • Any organization including LLP and ULP is required to get the Income Tax Return.
  • In the case of residential, an individual can retain the signing authority for an account-based outside the country. 

How is ITR Form 7 related to Section 139?

ITR-7 Form is an Income Tax Return form that is applicable to all individuals and entities. It is required to furnish tax returns applicable including various different subsections of Section 139. To file the returns, the ITR-7 form is submitted through paper or electronic and digital signature. 

FAQs about Section 139 Income Tax act

What is Income Tax Section 139 (4)?

Section 139(A) generally operates with late filing Income Tax Returns. It works as an individual or entity Income Tax Returns. Prior to the due dates as specified under Section 142(1), the returns for the years can be filed before the expiry date of the current financial year. 

What is the seventh provision of Section 139 (1)?

According to the seventh provision of Section 139(1), any person undertaking high-value expenditures has to mandatorily file Income Tax Returns even if the person is entitled to exemptions from filing taxes.

How do I fix defective returns?

In case of any defective returns, the revised returns can be filed as mentioned under Section 139 (4).