If you didn't file your income tax return for FY 2025-26 (AY 2026-27) by the original due date, or you filed one with a mistake, the law still gives you a window. Both a belated return and a revised return can be filed up to 31 December 2026, as long as the assessment has not been completed.
Belated return — section 139(4)
A belated return is simply a first return filed after the due date. It is processed like any other return and you can still get your refund. But filing late has a price:
- Late fee under section 234F: ₹5,000, reduced to ₹1,000 if your total income is up to ₹5 lakh. No fee applies if your income is below the basic exemption limit and you are filing voluntarily.
- Interest under section 234A: 1% per month (or part of a month) on unpaid tax, from the due date until you file.
- Losses: business losses, capital losses and other losses cannot be carried forward from a belated return. Only house-property loss and unabsorbed depreciation survive.
- Old regime option: the new tax regime is the default. Individuals without business income can choose the old regime only in a return filed by the original due date. In a belated return, you are taxed under the new regime.
Revised return — section 139(5)
If you already filed and later spot an error — missed interest income, a wrong deduction, an omitted bank account — you can file a revised return. It replaces the original completely, and you can revise more than once within the same deadline. There is no fee for revising, but any additional tax must be paid with interest before you file.
After 31 December: the updated return (ITR-U)
Once the belated and revised window closes, the remaining route is an updated return under section 139(8A). It can be filed within 48 months from the end of the assessment year, but only to increase your income or tax — never to claim a refund or a higher loss. It also carries additional tax on top of tax and interest:
| Filed within (from end of AY) | Additional tax |
|---|---|
| 12 months | 25% of tax + interest |
| 24 months | 50% |
| 36 months | 60% |
| 48 months | 70% |
That makes 31 December a real deadline. Filing a belated return now costs a fixed late fee; waiting a few months turns it into an updated return with a percentage penalty.
What to keep ready
- Form 16 and salary slips, interest certificates, capital-gains statements
- Your AIS and Form 26AS — mismatches with these are the most common reason for notices
- For a revised return: the acknowledgement number and date of the original return
Our ITR document checklist lists everything, and our team can file a belated or revised return within a few working days.