Missed ITR Filing Deadline for FY 2025-26? File Belated Return Before 31 December 2026

Summary: Taxpayers who have missed the prescribed income tax return filing deadline for financial year 2025-26 (assessment year 2026-27) can still file a belated return under Section 139(4) of the Income-tax Act, 1961, subject to the applicable statutory conditions. The ordinary last date for filing a belated return is 31 December 2026 or completion of assessment, whichever is earlier. However, filing after the applicable due date may attract late filing fees under Section 234F, interest under Section 234A and restrictions on carrying forward certain business and capital losses. The late filing fee is generally ₹5,000 where total income exceeds ₹5 lakh and ₹1,000 where total income does not exceed ₹5 lakh, provided the taxpayer is required to furnish a return. Taxpayers who have already filed their returns but subsequently discover omissions or incorrect particulars may file revised returns under Section 139(5) up to 31 March 2027, subject to completion of assessment. The Finance Act, 2026 also introduced a separate fee under Section 234-I for specified revised returns furnished after 31 December 2026. Taxpayers who miss the belated return deadline may explore the updated return facility under Section 139(8A), subject to restrictions and additional tax. Although the Income-tax Act, 2025 came into force on 1 April 2026, returns relating to FY 2025-26 continue to be governed by the Income-tax Act, 1961. This article explains the applicable deadlines, late filing consequences, revised return provisions, updated return facility and practical steps for taxpayers.

Income Tax Return Filing Due Dates for FY 2025-26 (AY 2026-27)

The income tax return filing deadlines for AY 2026-27 depend on the category of taxpayer and applicable audit requirements.

Important update: CBDT Circular No. 07/2026 dated 28 September 2026 extended the due date for furnishing specified audit reports to 21 October 2026 and the corresponding income tax return filing deadline to 21 November 2026. Taxpayers must apply the due date relevant to their category, including any applicable extension.

Belated Income Tax Return Under Section 139(4)

Taxpayers who fail to furnish their income tax returns within the applicable due date under Section 139(1) may generally file a belated income tax return under Section 139(4).

For AY 2026-27, the ordinary last date for filing a belated return is 31 December 2026 or completion of assessment, whichever is earlier.

Who Can File a Belated Return?

Eligible taxpayers may include salaried individuals, pensioners, professionals, business owners, companies and other persons who have missed their applicable filing deadline.

However, filing a belated return does not automatically remove late filing fees, interest liability or restrictions on carrying forward specified losses.

Late Filing Fees Under Section 234F for AY 2026-27

Under Section 234F of the Income-tax Act, 1961, a taxpayer required to furnish a return under Section 139 who fails to do so within the applicable due date may be liable to pay a late filing fee.

The fee applies subject to the statutory conditions. It is not automatically payable merely because a person voluntarily files a return after the due date where no return-filing obligation existed.

Example of Late Filing Fee

Suppose a salaried individual having total income of ₹8 lakh for FY 2025-26 files a return after the applicable due date. The late filing fee would generally be ₹5,000.

Where total income is ₹4 lakh and the taxpayer is required to furnish a return under Section 139, the fee would generally be ₹1,000.

Note: Late filing fees are separate from income tax, interest and other applicable liabilities.

Interest on Late Filing Under Section 234A

Where tax remains payable, interest under Section 234A may arise for delay in filing an income tax return.

Interest is generally charged at 1% per month or part of a month on the amount determined under the statutory provisions.

Example of Interest Calculation

Assume the following:

• Tax liability relevant for Section 234A: ₹50,000.
• Applicable filing due date: 31 July 2026.
• Actual filing date: 15 October 2026.
• Delay for interest calculation: Three months or parts thereof.

Interest = ₹50,000 × 1% × 3 = ₹1,500.

This calculation is illustrative. Actual interest depends on the applicable due date, advance tax, TDS, TCS, eligible credits, payments and other statutory adjustments.

Interest under Sections 234B and 234C may also apply independently where the relevant conditions concerning advance tax are satisfied.

Disadvantages of Filing Income Tax Return After the Due Date

1. Restrictions on Carrying Forward Certain Losses

Under Section 80 read with Section 139(3), certain losses generally cannot be carried forward unless the return is furnished within the prescribed time.

The rules relating to filing loss returns and carrying forward losses are particularly important for taxpayers having business or investment losses.

These restrictions generally cover:

• Business losses, including speculation business losses.
• Capital losses.
• Losses from owning and maintaining racehorses.

However, eligible house property losses and unabsorbed depreciation are governed by different provisions and are not automatically forfeited merely because the return is filed late.

2. Possible Reduction in Interest on Refunds

Delay in furnishing an income tax return may affect the period for which interest on a refund is payable under Section 244A.

The financial impact may be material where a substantial refund is due.

3. Additional Interest Liability

Interest under Sections 234A, 234B and 234C may increase the total amount payable, depending on the taxpayer’s circumstances.

4. Delay in Receiving Income Tax Refunds

Late filing may delay processing of the return and issuance of an eligible refund.

5. Reduced Time to Correct Errors

Filing close to the final deadline leaves less time to identify incorrect particulars, omitted income, mismatched tax credits or other errors.

Revised Income Tax Return Under Section 139(5)

A taxpayer who discovers an omission or incorrect statement in an original or belated return may generally file a revised return under Section 139(5).

For AY 2026-27, the ordinary deadline for filing a revised return is 31 March 2027 or completion of assessment, whichever is earlier.

Accordingly, the revised return deadline differs from the belated return deadline.

Fee for Revised Returns Filed After 31 December 2026

The Finance Act, 2026 introduced Section 234-I, prescribing a fee for specified revised returns filed after 31 December 2026.

This is separate from the late filing fee under Section 234F. Its application must be determined under the statutory conditions applicable to the revised return.

Defective Income Tax Return Under Section 139(9)

Where the Income Tax Department identifies defects in a return, it may issue an intimation under Section 139(9).

The taxpayer is ordinarily allowed 15 days from the date of intimation, or an extended period permitted by the Assessing Officer, to rectify the defects.

Failure to rectify defects within the permitted period may result in the return being treated as invalid, subject to the statutory provisions governing delayed rectification.

Updated Income Tax Return Under Section 139(8A)

Taxpayers who miss the ordinary filing deadlines may consider an updated income tax return under Section 139(8A), commonly referred to as ITR-U.

Subject to the statutory conditions, an updated return can generally be furnished within 48 months from the end of the relevant assessment year.

For AY 2026-27, the outer statutory limit is ordinarily 31 March 2031.

Additional Tax on Updated Returns

Under Section 140B, additional income tax is generally payable at the following rates:

The percentages apply to the aggregate of tax and interest determined under the applicable provisions, not directly to total income.

The updated return rules and Form ITR-U requirements must be examined before filing.

ITR-U is not a general substitute for a revised return. Restrictions apply to returns reducing tax liability, increasing refunds, reporting losses and specified proceedings. Certain loss-related provisions were also amended by the Finance Act, 2026.

How to File a Belated Income Tax Return for AY 2026-27

1. Visit the official Income Tax e-Filing portal at www.incometax.gov.in.
2. Log in using PAN and the applicable credentials.
3. Select the income tax return filing service.
4. Choose Assessment Year 2026-27.
5. Select the appropriate ITR form and filing category.
6. Reconcile income, Form 26AS, AIS, TIS and relevant financial records.
7. Calculate tax, interest and late filing fees, where applicable.
8. Pay the outstanding amount through the prescribed payment facility.
9. Submit the return under the applicable provision.
10. Complete e-verification within the prescribed time.

Important: Although the Income-tax Act, 2025 came into force on 1 April 2026, the return for FY 2025-26 continues to be governed by the Income-tax Act, 1961.

Frequently Asked Questions on Late ITR Filing for AY 2026-27

1. What is the last date for filing a belated ITR for FY 2025-26?

The ordinary last date is 31 December 2026 or completion of assessment, whichever is earlier, unless further relief is notified.

2. What is the late filing fee for AY 2026-27?

Under Section 234F, the fee is generally ₹1,000 where total income does not exceed ₹5 lakh and ₹5,000 where total income exceeds ₹5 lakh, subject to the statutory conditions.

3. Can I file an income tax return after 31 December 2026?

An eligible taxpayer may consider filing an updated return under Section 139(8A), subject to restrictions and additional tax.

4. Can I revise a belated income tax return?

Yes. A belated return can generally be revised under Section 139(5) before 31 March 2027 or completion of assessment, whichever is earlier.

5. Is there a fee for revising an ITR after 31 December 2026?

Section 234-I prescribes a fee for specified revised returns furnished after 31 December 2026, subject to its statutory conditions.

6. Will interest apply if I file my ITR late?

Interest under Section 234A may apply where tax remains payable and the statutory conditions are satisfied. Interest under Sections 234B and 234C may also apply independently.

7. Can I carry forward capital losses if I file a belated return?

Generally, capital losses cannot be carried forward where the return is not furnished within the time prescribed under Section 139(3), read with Section 80.

8. Can I claim a refund through a belated return?

Yes, an eligible refund may generally be claimed through a belated return filed within the permitted time, subject to the applicable provisions.

9. Does the Income-tax Act, 2025 apply to FY 2025-26?

No. Income earned during FY 2025-26 and assessed in AY 2026-27 continues to be governed by the Income-tax Act, 1961.

10. Is the late filing fee applicable when there is no tax payable?

It may still apply where the taxpayer was required to furnish a return under Section 139. The absence of tax payable does not automatically eliminate the fee.

11. What happens if I fail to e-verify my return?

A return not verified within the prescribed period may be treated as invalid, subject to applicable rules and condonation provisions.

12. Can I use ITR-U to increase my income tax refund?

Generally, an updated return cannot be used to increase a refund or reduce the tax liability determined on the basis of an earlier return.

Key Takeaways

• FY 2025-26 corresponds to AY 2026-27 and remains governed by the Income-tax Act, 1961.
• The ordinary belated return deadline is 31 December 2026.
• The revised return deadline is 31 March 2027, subject to completion of assessment.
• Late filing fees under Section 234F are generally ₹1,000 or ₹5,000, depending on total income and statutory conditions.
• Section 234-I may apply to specified revised returns filed after 31 December 2026.
• Interest under Sections 234A, 234B and 234C may apply where relevant.
• Delayed filing may prevent carry-forward of specified business and capital losses.
• Eligible taxpayers may use ITR-U within the prescribed period, subject to restrictions and additional tax.
• Taxpayers should verify applicable CBDT extensions before treating their return as belated.

Disclaimer: This article is intended for general information and explains the provisions applicable to FY 2025-26 (AY 2026-27) based on the statutory framework and official guidance available as of 12 October 2026. Due dates, procedural requirements and statutory relief may change through notifications, circulars or subsequent amendments. Taxpayers should verify the applicable provisions and seek professional advice where necessary. TaxGuru accepts no responsibility for actions taken solely on the basis of this article.