A belated ITR is still available if you missed the original due date for FY 2025-26 (AY 2026-27). If you filed but made a mistake, you can file a revised return. Both have the same last date: 31 December 2026, unless extended by CBDT.
Key takeaways
- Belated and revised returns for AY 2026-27 close on 31 December 2026.
- Late fee is ₹5,000, or ₹1,000 if income does not exceed ₹5 lakh.
- Business and capital losses generally cannot be carried forward on a belated return.
- After 31 December, ITR-U is the remaining route — with extra tax of 25% to 70%.
Belated return: filing after the due date
A belated ITR is an income tax return filed after the original due date but before 31 December of the assessment year. File it on the Income Tax e-filing portal or through income tax e-filing with Filing360.
Consequences of filing late:
- Late fee: ₹5,000, reduced to ₹1,000 if total income does not exceed ₹5 lakh. No fee if income is below the basic exemption limit.
- Interest: 1% per month on unpaid tax from the due date until filing.
- Losses: business losses and capital losses cannot be carried forward (house property loss can still be carried forward).
- Tax regime: if you have no business income, you are generally stuck with the new tax regime, because the old regime can be chosen only in a return filed by the original due date.
Revised return: correcting a mistake
If you discover an omission or wrong statement in your original or belated return, you can file a revised return by 31 December 2026 or before the assessment is completed, whichever is earlier. There is no limit on the number of revisions and no fee for revising.
Common reasons to revise:
- Interest income from savings, FDs or bonds missed
- Wrong deduction claimed or a valid deduction missed
- Capital gains not reported
- Mismatch with AIS or Form 26AS
Updated return (ITR-U): after 31 December
If both deadlines are missed, you can still file an updated return within 48 months from the end of the assessment year, but only to report additional income and pay more tax.
| Time of filing (from end of AY) | Additional tax payable |
|---|---|
| Within 12 months | 25% of additional tax and interest |
| 12 to 24 months | 50% |
| 24 to 36 months | 60% |
| 36 to 48 months | 70% |
An updated return cannot be used to claim a refund, increase a loss or reduce tax.
AIS, Form 26AS and why people miss the deadline
Most belated ITR filings we see are not wilful. AIS shows interest, TCS, shares and foreign assets the taxpayer never put in a spreadsheet. Download AIS and 26AS first, then pick the ITR form. Filing a 1 instead of a 2, or skipping Schedule FA, is how a belated return becomes a revised return two weeks later. Give yourself a week, not an evening.
Old versus new regime on a late return
If you have no business income and you missed the original due date, you generally cannot opt for the old regime in a belated ITR. That single rule can cost more than the ₹1,000 late fee. If you have business income, the regime choice follows the return you actually file — get a CA to model both before you click submit.
What to do this week
- Log in to incometax.gov.in and download AIS, TIS and 26AS.
- If you have not filed AY 2026-27 yet, treat 31 December 2026 as a hard stop for a belated ITR.
- If you already filed and AIS does not match, revise before the same date.
Which option should you choose?
| Situation | Option |
|---|---|
| Never filed, before 31 Dec 2026 | Belated return |
| Filed but found an error, before 31 Dec 2026 | Revised return |
| Never filed or under-reported, after 31 Dec 2026 | Updated return (ITR-U) |
Worked scenario
A salaried person with ₹9 lakh income and missed FD interest of ₹40,000 files nothing by the original due date. A belated ITR by 31 December 2026 still gets the refund of excess TDS, minus a ₹1,000 late fee. If they wait until February 2027, ITR-U is the path and extra tax applies on any additional income — refunds are not the point of ITR-U. Another person who filed on time but forgot Schedule FA should revise, not file ITR-U.
Related reading: income tax e-filing and income tax notice response.
Filing360 downloads AIS, picks the ITR form, flags old-versus-new regime, and files the belated ITR or the revision before 31 December 2026. If the window has closed, we tell you honestly whether ITR-U is worth the extra tax. Bring Form 16, AIS and bank interest certificates; those three close most salaried files.
Frequently asked questions
Will I get a refund in a belated ITR?
Yes, refunds are allowed in belated returns, though interest on the refund may be reduced.
Can a belated return be revised?
Yes, a belated return can be revised within the same deadline.
What if I received a notice for non-filing?
Respond on the e-filing portal and file the return immediately; contact a professional if a penalty or prosecution notice is involved.
Does a belated ITR stop interest under section 234A?
No. Interest on unpaid tax runs from the original due date until you file and pay. Filing earlier in the belated window costs less interest than waiting for 31 December.
Don’t wait for 31 December. File your belated ITR with Filing360.
