Filing
Missed the ITR deadline? Belated, revised and updated returns
Missed the FY 2025-26 due date? Belated returns, revised returns and ITR-U, with their costs and time limits.
By Pooja Agarwal4 min read
If you are reading this in late October 2026 and have not filed for FY 2025-26 (AY 2026-27), you have missed the regular deadline unless your accounts need an audit. That is fixable. The law has three tools for this situation: the belated return, the revised return and the updated return (ITR-U). Each has its own window and cost, and choosing the right one early saves money.
Where the deadlines stand
For AY 2026-27, the original due dates were:
| Who | Due date |
|---|---|
| ITR-1 and ITR-2 filers | 31 July 2026 |
| ITR-3 and ITR-4, no audit | 31 August 2026 |
| Cases needing a tax audit | 31 October 2026 |
So salaried people and most freelancers on the presumptive scheme are now past the due date. Note that an extension of a filing date never extends the date for paying tax; interest runs from the original dates.
Option 1: the belated return
A return filed after the due date but by 31 December of the assessment year is a belated return. For AY 2026-27 that means by 31 December 2026. It costs you in a few ways:
- Late fee under section 234F: ₹5,000, or ₹1,000 if your total income is ₹5 lakh or less.
- Interest under section 234A on any tax still unpaid, counted monthly from the due date.
- Lost carry-forward for certain losses, such as business losses and capital losses.
- Regime lock: a belated return generally means the new regime. Without business income, the old regime can be chosen only in a return filed by the due date. With business income, the choice rides on Form 10-IEA, which also had to be filed by the due date.
Even with these costs, a belated return is far better than none. If tax was deducted from your income, you may well be due a refund that only a return will release.
Option 2: the revised return
A revised return corrects a return you already filed, whether on time or belated, when you spot a mistake: a missed interest entry, a wrong TDS figure, a forgotten bank account. You simply file again, marking it as revised and quoting the original acknowledgement number.
Budget 2026 extended the window for revising to 31 March of the assessment year, which for AY 2026-27 means 31 March 2027. Reports suggest a fee may apply to revisions made after 31 December; confirm the current position on the income-tax portal before you rely on the later date.
Revising is not limited to one attempt, but each revision replaces the last, so get the numbers right before you file.
Option 3: the updated return (ITR-U)
Once the belated and revised windows close, the updated return is the remaining route. The Finance Act 2025 extended its window to 48 months from the end of the assessment year. For AY 2026-27, the year ends on 31 March 2027, so the outer limit is 31 March 2031.
ITR-U comes with an extra tax on top of the tax and interest you owe, rising the longer you wait:
| Filed within | Additional tax |
|---|---|
| 12 months of the AY ending | 25% of tax and interest |
| 12 to 24 months | 50% |
| 24 to 36 months | 60% |
| 36 to 48 months | 70% |
It is designed for paying more tax, not less. You cannot use it to report a loss, reduce your tax or claim a bigger refund, and it is not available in some cases, for example where proceedings against you have already started. A CA can confirm whether you qualify.
A worked example
Vikram, a freelancer, forgets ₹2,00,000 of income from FY 2025-26 and notices only in mid-2028. Say the extra tax plus interest on that income works out to ₹40,000. He is between 12 and 24 months after the AY ended (31 March 2027), so the additional tax is 50%:
- Tax and interest: ₹40,000
- Additional tax: 50% of ₹40,000 = ₹20,000
- Total to pay: ₹60,000
Had he caught it before 31 March 2028, within the first 12 months, the additional tax would have been 25%, or ₹10,000, for a total of ₹50,000. Waiting another year cost him ₹10,000.
What to do this week
- Not filed at all? File a belated return before 31 December 2026, pay any balance tax with interest first, and pay the 234F fee.
- Filed but found a mistake? File a revised return, ideally before 31 December 2026.
- Found missing income from older years? Consider ITR-U, and do it sooner rather than later, as the extra tax steps up each year.
- Owed a refund but missed every window? ITR-U will not help. There is a separate route to ask the department to condone the delay; speak to a CA.
After any filing, e-verify promptly. An unverified return is treated as not filed, which would undo all of the above.
General information, not tax advice. Rules change, so check the latest rules or speak to a CA before you act.