Belated Income Tax Return vs Revised Income Tax Return
  • February 13, 2026
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Belated Income Tax Return vs Revised Income Tax Return

What is a Belated Return?

A Belated Return refers to an Income Tax Return filed after the due date prescribed under Section 139(1) of the Income-tax Act, 1961 but within the time permitted under Section 139(4). It provides an opportunity to taxpayers who missed the original due date to regularize compliance and avoid prosecution for non-filing.

Time Limit for Filing Belated Return (FY 2025-26)

Belated Return Can be filed before 31st December of the relevant Assessment Year. For FY 2025-26 (AY 2026-27) Belated Return can be filed up to 31st December 2026.

Consequences of Filing a Belated Return-Belated ITR Filing

Particulars Statutory Provision Applicability Quantum / Impact Remarks
Late Filing Fee Section 234F Return filed after due date prescribed under Section 139(1) ₹5,000 – If Total Income exceeds ₹5,00,000 ₹1,000 – If Total Income does not exceed ₹5,00,000 Not leviable where Total Income does not exceed the Basic Exemption Limit. However, return filing may still be mandatory in specified cases (e.g., foreign assets, high-value transactions).
Interest for Delay in Filing Section 234A Applicable where tax is payable and return is filed after due date Interest @ 1% per month or part thereof on tax payable (after reducing TDS/TCS/Advance Tax) Calculated from due date till actual date of filing. Mandatory and automatic levy.
Loss of Carry Forward of Certain Losses Sections 139(3) read with respective loss provisions Applicable where return is not filed within due date under Section 139(1) Business Loss (Section 72) – Cannot be carried forward Capital Loss (Section 74) – Cannot be carried forward Exception: Loss under the head “Income from House Property” (Section 71B) can be carried forward even if return is belated.

Example

If an individual required to file ITR by 31 July 2026 files the return on 10 October 2026, it will be treated as a Belated Return under Section 139(4).

What is Revised Return?

A Revised Return is an Income Tax Return filed to correct any omission, wrong statement, or error discovered after filing the original return. It is permitted under Section 139(5) of the Income-tax Act, 1961. A revised return substitutes the original return and is treated as the valid return for all legal purposes

Legal Provision – Section 139(5)

An assessee who has filed:

  1. A return under Section 139(1) (original return), or
  2. A Belated Return under Section 139(4)

may file a revised return if any omission or incorrect statement is noticed

Time Limit for Filing Revised Return (FY 2025-26 )

Revised return due date: A revised return can be filed: On or before 31st March 2026, or before completion of assessment, whichever is earlier.Multiple revisions are permitted within the prescribed time limit

Key Features

  1. Allowed to correct income, deductions, exemptions, TDS details, etc.
  2. Replaces the previously filed return.
  3. No late filing fee if the original return was filed within due date.
  4. Additional tax and interest may apply if tax liability increases.

 Practical Example

If an assessee files ITR on 20 July 2026 and later discovers omission of interest income, a revised return can be filed before 31 March 2027 to rectify the error.

Comparison Between Belated Income Tax Return vs Revised Income Tax Return

Particulars Belated Return Revised Return
Relevant Section 139(4) 139(5)
When Filed After due date under Section 139(1) To correct omission or wrong statement in original/belated return
Eligibility Condition Original return not filed within due date Original or belated return already filed
Time Limit (FY 2025-26) Up to 31st December 2026 Up to 31st March 2027 or before completion of assessment
Late Filing Fee (Sec 234F) Applicable The timeline for filing revised ITR extended up to 31 March (instead of 31 December) with late filing fee up to INR 5,000.
Interest (Sec 234A) Applicable Depends on additional tax liability
Carry Forward of Losses Not allowed (except house property loss) Allowed if original return was filed within due date
Number of Times Only once Multiple revisions permitted within time limit
Purpose Compliance after missing deadline Correction of errors

Can a Belated Return Be Revised?

Yes, a belated Income Tax Return filed under Section 139(4) of the Income-tax Act, 1961 can be subsequently revised under Section 139(5).

Earlier, the law did not permit revision of a belated return. However, pursuant to the amendment effective from Assessment Year 2017–18, taxpayers are now legally allowed to revise a return filed under Section 139(4) if they identify any omission, incorrect claim, or wrong statement in the original filing.

Accordingly, both original returns filed under Section 139(1) and belated returns filed under Section 139(4) are eligible for revision within the prescribed time limit under Section 139(5), subject to completion of assessment, whichever is earlier.

Frequently Asked Questions (FAQs)

1. Is it possible to revise an Income Tax Return (ITR) that was filed after the due date?
Yes. Under the provisions of Section 139(5) of the Income-tax Act, 1961, any return filed under Section 139(1) (Original) or Section 139(4) (Belated) can be revised. If you discover any omission or wrong statement in your belated filing, you may furnish a revised return within the prescribed statutory timelines.
2. What is the deadline for filing a revised return for FY 2025-26 (AY 2026-27)?
For the Assessment Year 2026-27, a revised return can be filed at any time on or before 31st March 2027, or before the completion of the assessment by the Department, whichever is earlier. It is pertinent to note that while the window for a belated return closes on 31st December 2026, the law provides an additional window until March for revisions provided original or belated return has been filed before 31st December 2026
3. Will I be charged a penalty for revising my ITR?
There is no specific “revision penalty.” However, the financial implications depend on the timing and nature of the original filing:

Original filed on time: No late filing fee under Section 234F.

Original was belated: The late filing fee (up to ₹5,000) paid during the belated filing remains applicable.

Post-December Revision: Under the updated 2026 provisions, revisions made between January 1st and March 31st may attract a late filing fee if not already discharged.

Increased Liability: If the revision results in higher taxable income, additional interest under Sections 234A, 234B, or 234C may apply.

4. Can I carry forward business losses if I revise a belated return?
No. While you can revise a belated return to correct errors, the revision does not override the consequences of the initial delay. Under Section 139(3), business losses and capital losses can only be carried forward if the original return was filed within the due date prescribed under Section 139(1). The only exception is Loss from House Property, which can be carried forward even if the return was belated or revised.
5. How many times can a taxpayer revise their return?
The Income-tax Act does not specify a limit on the number of times a return can be revised. A taxpayer can file a revised return multiple times, provided each subsequent revision is filed within the allowed timeframe (i.e., before March 31st of the relevant AY or completion of assessment). Each new revised return replaces the previous one entirely.
6. What happens to the original return once a revised return is filed?
Once a revised return is filed under Section 139(5), the original return (or the previous belated/revised return) is deemed to be withdrawn and substituted by the revised version. The Income Tax Department will process the latest return filed, treating it as the final and valid disclosure of your income for that financial year.

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