Belated, Revised, and Updated ITR: Complete Guide for AY 2026-27

Belated, Revised, and Updated ITR: Complete Guide for AY 2026-27

Missing the ITR filing deadline does not mean you lose the right to file. The Income Tax Act provides three options after the original due date passes: belated return, revised return, and updated return. Each has different deadlines, different costs, and different consequences for your tax position.

This guide covers all three options as they apply to Assessment Year 2026-27 (income earned in FY 2025-26), including the transition to the Income Tax Act 2025 for future tax years.

Original ITR Due Dates for AY 2026-27

Before discussing late filing options, here are the original due dates for FY 2025-26 (AY 2026-27):

If you file by these dates, no late fee or interest applies on the return filing itself.

Belated Return: Section 139(4)

What It Is

A belated return is an ITR filed after the original due date but within the extended deadline permitted by law. For AY 2026-27, the belated return deadline is December 31, 2026, or before the completion of assessment, whichever is earlier.

Who Can File

Any person who was required to file an original return but failed to do so by the due date can file a belated return. This includes:

• Salaried individuals who missed July 31, 2026
• Businesses that missed October 31, 2026
• Any taxpayer who was not required to file but wants to file (for claiming a refund, for example)

Penalty for Belated Filing

The late fee is mandatory and non-negotiable. It is payable along with the return, regardless of whether any tax is due.

Interest on Unpaid Tax: Section 234A

If you have any outstanding tax liability (self-assessment tax), you must also pay interest at 1% per month (or part of a month) from the original due date until the date of filing the belated return. This is in addition to the late fee.

For example, if you owed Rs 50,000 in tax and filed a belated return on October 15, 2026 (instead of July 31, 2026), you would pay:

• Late fee: Rs 5,000 (assuming income above Rs 5 lakh)
• Interest under 234A: Rs 50,000 x 1% x 3 months (August, September, October) = Rs 1,500
• Total additional cost: Rs 6,500

What You Lose by Filing Late

Filing a belated return has real consequences beyond the late fee:

1. Cannot carry forward losses. If you have business losses (Section 72), speculation losses (Section 73), capital gains losses (Section 74), or losses from owning and maintaining racehorses (Section 74A), these cannot be carried forward if you file a belated return. The loss is permanently lost for set-off against future income.

2. Cannot carry forward unabsorbed depreciation? No, unabsorbed depreciation under Section 32(2) can still be carried forward even in a belated return. This is a common misconception.

3. House property loss. Loss from house property (Section 71B) can be carried forward in a belated return. Only the losses listed above are blocked.

4. Interest under Section 234A applies from the original due date, not the belated filing date.

5. Prosecution risk. If the tax payable exceeds Rs 10,000 and the return is not filed by the end of the relevant assessment year (March 31, 2027), the Assessing Officer may initiate prosecution proceedings under Section 276CC. The penalty can include imprisonment of three months to seven years.

How to File a Belated Return

The process is identical to filing an original return on the income tax e-filing portal:

1. Log in to incometax.gov.in.
2. Select the correct ITR form (ITR-1, ITR-2, ITR-3, ITR-4, etc.).
3. Under "Return Filing Section," select Section 139(4) (belated return).
4. Fill in all income details, deductions, and tax payments.
5. Pay any outstanding self-assessment tax, late fee under Section 234F, and interest under Section 234A before filing.
6. Verify the return (Aadhaar OTP, DSC, or send signed ITR-V to CPC Bengaluru within 30 days).

The portal automatically calculates the late fee and interest. You cannot e-file the return without paying these amounts first.

Revised Return: Section 139(5)

What It Is

A revised return replaces a previously filed return (original or belated) when you discover an omission, mistake, or wrong statement. The revised return completely supersedes the earlier return.

Deadline for AY 2026-27

For FY 2025-26 (AY 2026-27), a revised return can be filed before March 31, 2027, or before the completion of assessment, whichever is earlier.

When You Need to Revise

Common reasons for filing a revised return:

• Forgot to report income from a second employer, freelance work, or bank interest
• Claimed a wrong deduction amount (Section 80C, 80D, HRA, etc.)
• Selected the wrong ITR form
• Made errors in bank account details for refund credit
• Missed reporting foreign assets or income
• TDS mismatch between Form 26AS/AIS and the filed return
• Incorrectly reported capital gains (wrong holding period, wrong exemption)

Number of Revisions Allowed

There is no statutory limit on the number of revised returns you can file within the deadline. Each revised return replaces the previous one. However, frequent revisions may attract scrutiny from the Assessing Officer.

How to File

1. Log in to incometax.gov.in.
2. Start a new return for AY 2026-27.
3. Under "Return Filing Section," select Section 139(5) (revised return).
4. Enter the original return acknowledgment number and the date of filing of the return being revised.
5. Correct the relevant fields.
6. Submit and verify.

There is no additional fee for filing a revised return for AY 2026-27 under the current law (Income Tax Act, 1961). However, if the revision results in additional tax liability, you must pay the tax along with interest under Section 234B (advance tax) and Section 234C (installment defaults) as applicable.

Important: Can You Revise a Belated Return?

Yes. A belated return filed under Section 139(4) can be revised under Section 139(5), provided the revision is filed before March 31, 2027, or before the completion of assessment.

Updated Return (ITR-U): Section 139(8A)

What It Is

The updated return was introduced by the Finance Act 2022. It allows any taxpayer to file or update their return within 48 months from the end of the relevant assessment year, even after the belated and revised return deadlines have passed.

For AY 2026-27, the updated return can be filed until March 31, 2031 (48 months from March 31, 2027).

Who Can File

Any person can file an updated return, whether or not they filed an original, belated, or revised return. However, an updated return:

• Cannot reduce total tax liability
• Cannot increase a refund
• Cannot result in a return of loss or increase an existing loss
• Cannot be filed if assessment, reassessment, or revision proceedings are pending or completed for that year
• Cannot be filed if search or survey proceedings have been initiated
• Cannot be filed if information has been received under a DTAA and relates to an asset located outside India
• Only one updated return can be filed per assessment year

Additional Tax Payable

The cost of filing an updated return increases with delay:

The 36-month and 48-month windows were added by the Finance Act 2025 (Budget 2025). Previously, the limit was 24 months.

When to Use ITR-U

The updated return is your last resort. Use it when:

• You missed both the original and belated return deadlines
• You filed a return but later discovered unreported income (bank FD interest, capital gains, rental income)
• You received a notice under Section 148A and want to voluntarily comply before reassessment
• Your AIS/TIS shows income you did not report, and you want to correct it before the department acts

How to File

1. Log in to incometax.gov.in.
2. Select ITR-U (available as a specific form option).
3. Select the reason for filing the updated return from the dropdown (income not reported, wrong exemption claimed, wrong rate applied, etc.).
4. Enter all income details for the relevant year.
5. Pay the full tax due plus additional tax under Section 140B before filing.
6. Submit and verify.

You must pay the entire tax, interest, and additional tax before submitting ITR-U. The portal will not accept the return without payment.

Belated vs. Revised vs. Updated: Quick Comparison

Transition to Income Tax Act 2025: Section 263

For income earned from April 1, 2026 onward (Tax Year 2026-27), the Income Tax Act 2025 applies. All return types are consolidated under Section 263:

• Section 263(1): Original return
• Section 263(4): Belated return
• Section 263(5): Revised return
• Section 263(6): Updated return

Key changes under the new Act:

1. Revised return deadline extended. The time limit for filing a revised return has been increased from 9 months to 12 months from the end of the relevant tax year.

2. Fee on late revised returns. A fee is levied on revised returns filed beyond 9 months from the end of the relevant tax year. This is a new provision not present in the 1961 Act.

3. Updated return window. Extended to 48 months from the end of the financial year succeeding the relevant tax year, consistent with the Budget 2025 amendment.

4. Section number mapping: Section 139 of the old Act maps to Section 263 of the new Act.

For AY 2026-27 returns (FY 2025-26 income), the old Section 139 provisions still apply because the income was earned before April 1, 2026.

Common Mistakes to Avoid

1. Assuming no return is needed because TDS was deducted. TDS does not substitute for ITR filing. If your gross total income exceeds the basic exemption limit, you must file even if tax has been fully deducted at source. Filing late attracts the Section 234F fee regardless.

2. Missing the December 31 deadline for belated returns. After December 31, your only option is the updated return (ITR-U) with 25% additional tax. The cost difference between a Rs 5,000 late fee and a 25% additional tax surcharge is substantial.

3. Filing a belated return and expecting to carry forward losses. Business losses and capital gains losses filed after the due date are permanently lost. If you have significant losses, file on time.

4. Not paying tax before filing ITR-U. The portal rejects an updated return if the tax is not paid in advance. Calculate your tax, interest, and additional tax, pay through e-Pay Tax (Challan 280), and then file.

5. Confusing the revised return with an updated return. A revised return replaces a filed return within the assessment year at no extra cost. An updated return is for correcting or filing after all other deadlines have passed, at a 25% to 70% premium. Always check if the revised return window is still open before using ITR-U.

Filing Checklist for AY 2026-27

• Check if the original due date (July 31, 2026 or October 31, 2026) has passed.
• If yes, determine whether you need a belated return, revised return, or updated return.
• Download your Form 26AS, AIS, and TIS from the income tax portal. Cross-check all reported income.
• Calculate self-assessment tax, late fee, and interest before starting the return.
• Pay all dues through e-Pay Tax (Challan 280) and note the challan details.
• Select the correct filing section on the portal (139(4) for belated, 139(5) for revised, ITR-U for updated).
• For revised returns, keep the original return acknowledgment number ready.
• Verify the return within 30 days of filing.

Tax Garden Handles Your ITR Filing

Tax Garden's ITR filing plans track every deadline, cross-verify your income against Form 26AS, AIS, and TIS, and file your return before the due date. If a revision is needed, we file it within the window at no additional charge. No missed deadlines, no late fees, no surprises.

For related topics, see our guides on common ITR filing mistakes, ITR-1 Sahaj filing guide, how to read Form 16 and file ITR, what happens if you miss the ITR deadline, and AIS vs Form 26AS vs TIS.

Frequently Asked Questions

Can I file a belated return if I have zero tax liability?

Yes. You can file a belated return even if your total income is below the basic exemption limit or all tax has been deducted at source. The late fee under Section 234F is nil if total income is below the exemption limit. Filing is still recommended to claim TDS refunds and maintain a clean filing record.

I filed ITR-1 but should have filed ITR-2 (I had capital gains). Can I revise?

Yes. File a revised return under Section 139(5) selecting ITR-2 as the form. Enter the original return acknowledgment number and date. The revised return will completely replace the incorrect ITR-1.

Can I switch from the old tax regime to the new regime in a revised return?

For salaried individuals without business income, you can switch regimes in a revised return because the regime choice is made at the time of filing (not before the due date). For individuals with business income, the regime choice under Section 115BAC must be made by the original due date using Form 10-IEA. A belated or revised return cannot change this election.

I missed filing for AY 2024-25. Can I still file?

The belated and revised return deadlines for AY 2024-25 have passed (December 31, 2024 and March 31, 2025 respectively). Your only option is an updated return (ITR-U) under Section 139(8A), which can be filed until March 31, 2029 with additional tax of 25% to 70% depending on the delay.

Does filing a belated return increase my chances of getting a scrutiny notice?

Filing late by itself does not automatically trigger scrutiny. The tax department selects returns for scrutiny based on risk parameters such as high-value transactions, mismatches in AIS data, and significant variations from previous years. However, not filing at all is far worse: it can lead to a notice under Section 142(1) or reassessment under Section 148.

Can I file an updated return to claim a higher refund?

No. Section 139(8A) explicitly prohibits filing an updated return that results in a refund or an increase in an existing refund. The updated return is designed only for cases where additional tax is payable.

What happens if I file a belated return after December 31, 2026?

You cannot file a belated return after December 31, 2026. The portal will not accept it. Your only remaining option is the updated return (ITR-U), which requires additional tax of 25% (if filed within 12 months of the end of AY 2026-27, i.e., by March 31, 2028) to 70% (if filed in the last 12-month window).

Sources

This guide is verified against Section 139(1), 139(4), 139(5), and 139(8A) of the Income Tax Act, 1961 (return filing, belated return, revised return, and updated return), Section 234F (late filing fee: Rs 1,000 or Rs 5,000), Section 234A (interest at 1% per month on unpaid tax), Section 140B (tax payable with updated return), Section 276CC (prosecution for failure to file), Section 72 and 74 (loss carry-forward restrictions for belated returns), and Section 263 of the Income Tax Act, 2025 (consolidated return provisions effective April 1, 2026). The 48-month ITR-U window and additional tax rates of 60% and 70% for the third and fourth year were introduced by the Finance Act 2025. Filing procedures confirmed from the income tax e-filing portal (incometax.gov.in). Rates, deadlines, and penalties cross-verified against ClearTax, TaxGuru, BajajFinserv, and CAClubIndia reference materials as of May 2026.