Belated vs Revised vs Updated ITR: Deadlines, Fees and What to File (AY 2026-27)
Last updated: 31 October 2026
Quick answer: For AY 2026-27 (FY 2025-26), file a belated return if you missed the original due date, by 31 December 2026. File a revised return if you already filed and need to correct it, by 31 March 2027. File an updated return (ITR-U) only if you missed both windows or left out income, and expect to pay extra tax of 25% to 70%.
Last updated: 31 October 2026 Quick answer: For AY 2026-27 (FY 2025-26), file a belated return if you missed the original due date, by 31 December 2026. File a revised return if you already filed and need to correct it, by 31 March 2027. File an updated return (ITR-U) only if you missed both windows or left out income, and expect to pay extra tax of 25% to 70%. Key takeaways Belated return: due 31 December 2026, with a late fee of ₹1,000 (total income up to ₹5 lakh) or ₹5,000, plus 1% a month interest on unpaid tax. Revised return: due 31 March 2027 after the Budget 2026 extension; a fee under Section 234I (₹1,000 if total income is up to ₹5 lakh, ₹5,000 otherwise) applies to revisions filed after 31 December 2026. Updated return: ITR-U can be filed until 31 March 2031 but costs extra tax, and it cannot be used to claim a bigger refund. Audit cases: the original due date moved to 21 November 2026 (CBDT Circular 07/2026), so those filers are not late yet. Biggest trap: a belated return costs you the right to carry forward most losses, even if no tax is due. New to this topic? Start with the basics in our free Academy lesson: Which return, by when: ITR forms, due dates, advance tax and refunds (/learn/tax-for-investors/itr-forms-due-dates-advance-tax) → Missing the ITR deadline feels worse than it usually is. The law gives you three ways back in, and each has a different deadline, price and purpose. This guide explains belated, revised and updated returns for AY 2026-27, so you can pick the right one and know what it will cost. Returns for FY 2025-26 are still governed by the Income-tax Act, 1961, even though the Income-tax Act, 2025 took effect on 1 April 2026. Belated, revised and updated returns: the differences Belated return Revised return Updated return (ITR-U) Use it when You did not file by the original due date You filed, but made a mistake or omission You missed both earlier windows, or want to report income you left out Section (1961 Act) 139(4) 139(5) 139(8A) Last date, AY 2026-27 31 December 2026 31 March 2027 31 March 2031 What it costs Late fee ₹1,000 or ₹5,000, plus 1% a month interest on unpaid tax No late fee of its own for revising a return filed on time; a Section 234I fee of ₹1,000 (income up to ₹5 lakh) or ₹5,000 applies to revisions after 31 December 2026 Additional tax of 25% to 70% of the tax and interest due, depending on how late Main limit Most losses cannot be carried forward You must revise within the window; check the fee after 31 December Cannot be used to claim additional refunds or fresh deductions, and cannot be revised again Missed the due date: how a belated return works The original due dates for AY 2026-27 were 31 July 2026 for ITR-1 and ITR-2, and 31 August 2026 for ITR-3 and ITR-4 without audit. If you missed yours, you can still file a belated return until 31 December 2026, or until assessment is completed if that comes earlier. Late fee (section 234F): ₹1,000 if total income is up to ₹5 lakh, ₹5,000 above that. It is a flat fee, so filing one day late or five months late costs the same. It applies even when your tax is fully covered by TDS, as long as you were required to file. Interest (section 234A): 1% a month, or part of a month, on tax still unpaid, counted from the day after the due date. Loss carry-forward: business and capital losses generally cannot be carried forward from a belated return. That can cost far more than the fee if you have large capital losses to set off against future gains. Worked example (Money n Wealth illustration). A salaried person with ₹8 lakh income owes ₹20,000 of tax not covered by TDS and files on 20 December 2026. The fee is ₹5,000. Interest runs for five months (August to December) at 1%, which is ₹1,000. The total extra cost is about ₹6,000, plus the tax itself. If the same person had no tax to pay, the fee alone would still apply. Filed with a mistake: how a revised return works A revised return replaces the one you filed. Budget 2026 extended the deadline from 31 December to 31 March of the assessment year, so for AY 2026-27 the last date is 31 March 2027. Section 234I, inserted by the Finance Act, 2026, charges a fee on a revised return filed after 31 December 2026 and before 31 March 2027: ₹1,000 if total income is up to ₹5 lakh and ₹5,000 otherwise. Revising on or before 31 December 2026 carries no fee. Common reasons to revise: Interest income, dividends or capital gains missing from your return, often found in your Annual Information Statement (AIS). TDS or advance tax that does not match Form 26AS. A deduction claimed in the wrong place, or a wrong bank account for the refund. A foreign asset left out of Schedule FA; see Foreign Assets in Your Indian Tax Return (/insights/foreign-assets-schedule-fa-india) . You can revise a belated return too, within the same window. Pay any extra tax before you submit, and e-verify the revised return within 30 days. Missed both windows: the updated return (ITR-U) An updated return is a last resort. For AY 2026-27 the window runs until 31 March 2031. It is meant mainly for income you did not report. You pay the tax and interest due plus additional tax of 25% to 70%, and the percentage rises the later you file. It generally cannot be used to claim a bigger refund or fresh deductions, and it cannot be revised again. Check your eligibility on the portal before relying on it. Which one should you file? Your situation What to file You never filed and the original due date has passed Belated return, by 31 December 2026 You filed on time but forgot interest income or a gain Revised return, by 31 March 2027 You filed late and now see an error Revised return of the belated return, by 31 March 2027 You missed 31 December 2026 and never filed Updated return (ITR-U), at extra cost Your accounts need an audit Original return, due 21 November 2026; you are not late yet A short checklist before you file late Reconcile first. Compare your AIS and Form 26AS with your own records, so you do not need a revision later. Pick the right form. See Which ITR Form to File? (/insights/which-itr-form-to-file) ; RSUs, foreign shares and F&O trades are the usual traps. Pay the tax and the fee. Pay self-assessment tax, including the section 234F fee and 234A interest, before submitting. E-verify within 30 days. An unverified return is treated as not filed. Keep the acknowledgement. If a notice follows, our guide to income tax notices (/insights/income-tax-notice-types-how-to-respond) explains how to reply. Frequently Asked Questions What is the last date to file a belated return for AY 2026-27? 31 December 2026, or the date assessment is completed if earlier. Filing after the original due date costs a section 234F fee and 1% a month interest on unpaid tax. Can I file a revised return after a belated return? Yes. A belated return can be revised until 31 March 2027, with the Section 234I fee (₹1,000 or ₹5,000) for revisions after 31 December 2026. Do I pay the late fee if my tax is fully deducted as TDS? Yes, if you were required to file. The fee is for filing late, not for owing tax. It is ₹1,000 for total income up to ₹5 lakh and ₹5,000 above that. What if I miss 31 December 2026? You can file an updated return (ITR-U) until 31 March 2031 and pay additional tax of 25% to 70%. It cannot be used to claim a larger refund. I am under tax audit. Is my return late after 31 October? No. CBDT Circular 07/2026 extended the return date for audit cases to 21 November 2026, and the audit report date to 21 October 2026. Related Reading Which ITR Form to File? ITR-1 to ITR-4 Explained (2026 Guide) (/insights/which-itr-form-to-file) Income Tax Notice in 2026: What Each Type Means and How to Respond (/insights/income-tax-notice-types-how-to-respond) Income-tax Act 2025 Explained: New Section Numbers, Tax Year and Forms (/insights/income-tax-act-2025-changes-individuals) ESOP and RSU Taxation in India: 2026 Guide for IT Employees (/insights/esop-rsu-taxation-india) Academy: Filing well: reconcile, choose, submit and verify (/learn/tax-for-investors/filing-well) Sources: Income Tax Department, Section 234-I (fee for furnishing revised return) (https://www.incometaxindia.gov.in/w/section-234i) ; CBDT Circular 07/2026 (https://incometaxindia.gov.in/documents/d/guest/circular-7-2026-pdf) ; TaxGST, belated and revised return (https://taxgst.in/missed-itr-deadline-belated-revised-return-2026/) ; CAclubindia, belated return due date for AY 2026-27 (https://www.caclubindia.com/articles/belated-return-due-date-for-ay-2026-27-check-deadline-and-penalty-56514.asp) ; TaxGuru, belated and updated returns (https://taxguru.in/?p=1049879) ; India TV, Budget 2026 revised return extension (https://www.indiatvnews.com/business/budget/good-news-for-tax-payers-fm-sitharaman-extends-deadline-to-file-revised-itr-march-31-income-tax-return-union-budget-2026-2026-02-01-1028423) . Worked examples are Money n Wealth illustrations. Missed a deadline or spotted an error in your return? Late and revised returns have costs that depend on your income and what you missed. Talk to Money n Wealth (/contact) for help through our tax consultation service (/products/tax) . This article is for general educational purposes only and does not constitute financial advice. Figures and examples are illustrative. Please consult a qualified financial adviser for guidance specific to your situation. Money n Wealth (Predics Fintech Services Pvt Ltd) is an AMFI-registered Mutual Fund Distributor (ARN-121995) and APMI-registered PMS Distributor (APRN07444); it is not a SEBI-registered investment adviser and may earn distribution commission on investments made through it.
Frequently Asked Questions
What is the last date to file a belated return for AY 2026-27?
31 December 2026, or the date assessment is completed if earlier. Filing after the original due date costs a section 234F fee (₹1,000 or ₹5,000) and 1% a month interest on unpaid tax.
Can I file a revised return after a belated return?
Yes. A belated return can be revised until 31 March 2027, with the portal fee for revisions filed after 31 December 2026.
Do I pay the late fee if my tax is fully deducted as TDS?
Yes, if you were required to file. The fee is for filing late, not for owing tax. It is ₹1,000 for total income up to ₹5 lakh and ₹5,000 above that.
What if I miss 31 December 2026?
You can file an updated return (ITR-U) until 31 March 2031 and pay additional tax of 25% to 70%. It generally cannot be used to claim a larger refund.
I am under tax audit. Is my return late after 31 October?
No. CBDT Circular 07/2026 extended the return date for audit cases to 21 November 2026, and the tax audit report date to 21 October 2026.