Under section 263(5) of the Income-tax Act, 2025, which returns may be revised if the person discovers an omission or wrong statement in them?

Section 263(5) of the Income-tax Act, 2025 allows a person who has furnished a return under section 263(1) or a belated return under section 263(4) to file a revised return on discovering an omission or wrong statement. An updated return under section 263(6) cannot be revised this way. After the Finance Act, 2026 the revision may be made within twelve months from the end of the tax year, with a fee if filed after nine months.