Belated and revised ITR: what to do after a missed deadline

Where things stand on 2 October 2026

The standard due date for most salaried returns for assessment year 2026-27 (income of FY 2025-26) was 31 July 2026. Individuals with business income who did not need an audit had until 31 August. That time has gone, but the law still gives you options.

If you have not filed, you can file a belated return. If you filed but made a mistake, you can file a revised return. The Income Tax Department's ITR help pages give the current dates; this post explains what they mean.

Belated return: the dates and the cost

For AY 2026-27, a belated return can be filed on or before 31 December 2026, or before the assessment is complete, whichever is earlier. The costs are:

An illustration, with assumed numbers. Your tax for the year, after TDS, comes to ₹20,000 unpaid, and you file on 15 November 2026 with income above ₹5 lakh. The fee is ₹5,000. Interest runs from 1 August to 15 November, which is four months or part of a month, so 4% of ₹20,000 = ₹800. The ₹5,000 fee is the same whether you file in August or December; it is the interest that grows with each extra month, so file as soon as you can.

If TDS already covers all of your tax, there is no interest and no tax to pay, but the ₹1,000 or ₹5,000 fee still applies, which is why filing on time matters even when you owe nothing. A refund claimed through a belated return is still paid.

What you lose by filing late

1. Loss carry-forward. If you booked capital losses on shares or funds that you hoped to set off against future gains, a belated return generally forfeits that right (a house property loss is the exception). This is the costliest mistake. See our post on tax-loss harvesting for why those losses are valuable.
2. Choice of regime. The new regime is the default. Taxpayers who want the old regime must opt for it in the return filed within the due date. A belated return may be processed under the new regime, so confirm the rule before you assume you can choose; our regime comparison covers the trade-off.
3. Time. After 31 December 2026 the belated route closes for this year. The only route left is an updated return, which costs extra tax.

Revised returns: a longer window than before

You can revise a return you have already filed, whether it was on time or belated, if you spot an error or omission: a missing deduction, an income you forgot, wrong bank details.

For AY 2026-27 onwards, the window for a revised return has been extended to 31 March of the assessment year (31 March 2027 for this year). If you revise after 31 December, a fee under section 234I applies. The amount is set by the law and shown on the portal; check it before you file.

A revised return replaces the original, so you pay any additional tax and interest, or claim any additional refund. Common reasons:

• An item in your AIS that you did not include; see Form 26AS, AIS and TIS.
• Interest income from a second bank.
• A capital gain from a fund switch; see switching is a taxable event.
• A claim you forgot, such as section 80C investments (section 123 in the 2025 Act) in the old regime.

Revising is far cheaper than a notice. A response to a mismatch letter can often be handled by revising before the department queries it.

If even the belated window has closed

After the belated deadline, you can still file an updated return (ITR-U) within a longer period, up to 48 months from the end of the assessment year, but it comes with additional tax on top of what you owe. It cannot be used to claim a refund or to reduce your tax. Treat it as a last resort.

A checklist if you missed 31 July

1. Download Form 16, 26AS and AIS and compute your tax; the income tax calculator helps.
2. Pay any tax due first, to stop interest running; the TDS calculator and advance tax guide show what has already been paid.
3. File before 31 December 2026 on the e-filing portal, choosing the original/belated option.
4. E-verify within 30 days.
5. If you later find a mistake, revise before 31 March 2027. Our first-time filer walkthrough covers each step, and common filing mistakes lists what trips people up.

Avoiding the problem next year

Put three dates in your calendar: mid-June, by which employers must issue Form 16; early July, when your AIS has filled up; and 15 July, your own target date. Filing by mid-July leaves two weeks of buffer before 31 July and lets you find mismatches early. If income might exceed what salary tax covers, plan for advance tax so that no tax is left to pay when you file, which also removes most of the interest risk of a late return.

One practical note on refunds: a belated return can still produce a refund, and the refund is processed once the return is verified. But the longer you wait, the longer the money sits with the department. If you are owed a refund, file early even if it is already belated, and make sure the bank account on the return is pre-validated so the credit does not bounce.

This article is for education only and is not tax advice. Due dates, fees and rules are extended or changed from time to time; verify them on incometax.gov.in or with a qualified professional.