Belated and Revised ITR Filing Deadline (Section 139(4) & 139(5))

Under the Income Tax Act, taxpayers are given a final window to finalize their tax compliance for the year. This window closes on December 31st of the Assessment Year (or before the completion of the assessment, whichever is earlier). For Financial Year 2025-26, this crucial deadline is December 31, 2026\.

This deadline applies to two specific scenarios:

1. Belated Return (Section 139(4)): If you completely missed your original filing deadline (July 31, August 31, or October 31), you can still file a "belated" return up until December 31st. * Penalty: Filing a belated return attracts a late fee under Section 234F of up to ₹5,000 (reduced to ₹1,000 if total income is below ₹5 Lakhs). You will also be charged penal interest (Section 234A) on any unpaid tax, and you lose the right to carry forward capital and business losses. 2. Revised Return (Section 139(5)): If you filed your original ITR on time but later discovered a mistake—such as missing deductions, reporting incorrect income, or bank account errors—you can file a "revised" return to correct it up until December 31st. * Penalty: There is no penalty or late fee for filing a revised return, provided the original return was filed on or before its due date.

Important Note: After December 31, 2026, the income tax portal generally blocks standard ITR filing for FY 2025-26. Taxpayers would then have to rely on the much more complex (and expensive) Updated Return (ITR-U) facility under Section 139(8A).