Category: Business News
If you missed the income tax return deadline for assessment year 2026-27, you still have one window left. A belated return under Section 139(4) of the Income-tax Act, 1961, can be filed up to 31 December 2026. After that date, the belated window closes for good.
This covers income earned in FY 2025-26 (the year that ended 31 March 2026). Assessment year 2026-27 continues to be governed by the Income-tax Act, 1961, even though the Income-tax Act, 2025 came into force from 1 April 2026.
The original due dates you missed
| Taxpayer category | Original due date |
|---|---|
| Salaried individuals, HUFs and others not requiring audit (ITR-1, ITR-2) | 31 July 2026 |
| Certain non-audit business and professional cases (ITR-3, ITR-4) | 31 August 2026 |
| Audit cases | 31 October 2026, extended to 21 November 2026 by CBDT Circular 07/2026 dated 28 September 2026 |
The CBDT extension for audit cases moves only the original due date. The outer limit for a belated return stays at 31 December 2026 for everyone.
What a belated return costs
Late fee under Section 234F. This is a flat, mandatory fee that does not depend on how many days late you are — filing one day late and filing five months late cost the same. It is ₹1,000 if your total income is up to ₹5 lakh, and ₹5,000 if it is above ₹5 lakh. There is no fee if your total income is below the basic exemption limit and you had no filing obligation. The fee applies even if your tax is fully covered by TDS and you owe nothing, and it is paid with Challan ITNS-280 before the return is submitted.
Interest under Section 234A. Interest of 1% per month, or part of a month, on any tax still unpaid, running from the day after the original due date until you file. If all your tax was paid through TDS and advance tax, no 234A interest arises.
Two rights you lose. A belated return can only be filed under the new tax regime — the option to choose the old regime is lost for that year, because the opt-out is only valid if exercised on or before the original due date. You also lose the right to carry forward business losses and capital losses to future years.
What if you need to correct it
A return filed under Section 139(4) can be revised under Section 139(5) up to 31 March 2027. Note that a fee under Section 234-I may apply to a revised return filed after 31 December 2026 — revising on or before 31 December carries no such fee.
After 31 December: only ITR-U
After 31 December 2026, Section 139(4) is no longer available. The only remaining route is an updated return (ITR-U) under Section 139(8A), which can be filed within 48 months of the end of the relevant assessment year — up to 31 March 2031 for AY 2026-27 — with additional tax of 25% to 70% on the tax and interest due, depending on how late you file it.
Also note: if an assessment order has already been passed before you file a belated return, the belated window closes early.
Sources: CAClubIndia, 2026; CORAA, checked 16 October 2026; Regitom, updated 23 October 2026; Legal Suvidha, 2026; CBDT Circular 07/2026, 28 September 2026.
