Belated, Revised and Updated Return (ITR-U): Deadlines, Fees and Rules for AY 2026-27

Belated or revised deadline

31 Dec 2026

For AY 2026-27

Late fee u/s 234F

₹5,000

₹1,000 if income up to ₹5 lakh

ITR-U window

48 months

From the end of the assessment year

ITR-U additional tax

25% to 70%

Of tax plus interest, depending on delay

Three sections, three situations

The Income-tax Act 1961 provides separate routes depending on whether you never filed, filed but made an error, or missed both windows. Each has its own deadline, cost and restrictions, so identify your situation before acting.

Belated return under section 139(4)

If you did not file by the due date, section 139(4) lets you file any time before 31 December of the assessment year or before the assessment is completed, whichever is earlier. For income earned in FY 2025-26, that means 31 December 2026. The process on the portal is identical to a regular return; you simply select section 139(4) in the filing status.

The late fee under section 234F is charged automatically when you submit. It is ₹5,000 if total income exceeds ₹5 lakh and ₹1,000 if it does not. No fee applies if your gross total income is below the basic exemption limit, but you are still allowed to file to claim a refund.

What you lose by filing late

The fee is the visible cost. The hidden costs are often larger, especially for investors, traders and anyone with deductions.

• Loss carry forward: capital losses and business losses (including F&O losses) cannot be carried forward under section 80 if the return is belated. Only house property loss and unabsorbed depreciation survive.
• Old regime choice: for taxpayers without business income, the old regime can be chosen only in a return filed under section 139(1). A belated return is assessed under the new regime, so HRA, 80C and 80D claims are lost.
• Refund interest: interest under section 244A on a refund runs from the date of filing instead of 1 April.
• Deductions under 10AA and Part C of chapter VI-A (80-IA, 80-IB and similar business deductions) are disallowed.
• Prosecution risk: wilful failure to file when tax evaded exceeds ₹25 lakh can attract prosecution under section 276CC, though this is rare for individual taxpayers who eventually file.

Revised return under section 139(5)

A revised return corrects any omission or wrong statement in a return already filed, whether the original was on time or belated. There is no limit on how many times you can revise before the deadline, and the revised return completely replaces the earlier one. The deadline is 31 December 2026 or completion of assessment, whichever is earlier.

• Select section 139(5) and enter the acknowledgement number and date of the original return.
• Any additional tax must be paid with interest under section 234B and 234C where applicable, but no 234F fee is charged on a revision of a timely return.
• You can change the ITR form, add missed income, correct bank details or claim a forgotten deduction.
• Regime switching in a revised return: if the original was filed on time under the new regime, you can opt into the old regime in the revision; the reverse is also allowed.
• E-verify the revised return within 30 days; the original remains in force until you do.

Updated return (ITR-U) under section 139(8A)

Section 139(8A), inserted by the Finance Act 2022 and extended by the Finance Act 2025, lets any taxpayer file an updated return within 48 months from the end of the relevant assessment year. It works whether or not you filed an original, belated or revised return. The price is additional tax on top of the normal tax and interest, and the form is ITR-U attached to the applicable ITR.

As of September 2026, the earlier years still open for ITR-U are AY 2022-23 (70% additional tax, last date 31 March 2027), AY 2023-24 (60% until 31 March 2027, then 70% until 31 March 2028), AY 2024-25 (50% until 31 March 2027, rising to 70% by 31 March 2029) and AY 2025-26 (25% until 31 March 2027, then 50%). Each year the rate steps up on 1 April, so filing before March saves money.

When ITR-U is not allowed

ITR-U is a one-way street towards paying more tax. It exists to let you regularise before the department finds the omission, not to claim what you forgot.

• It cannot be a return of loss, reduce your tax liability, or increase your refund compared with the earlier return.
• Only one ITR-U per assessment year; it cannot itself be updated again.
• Not allowed once a search under section 132, survey under 133A or requisition has been initiated against you.
• Not allowed if assessment, reassessment or revision is pending or completed for that year.
• Not allowed after a notice under section 148A or 148 has been issued for that year (a show-cause notice under 148A(1) after 36 months does not bar an ITR-U filed before the 148 notice).
• Not allowed if prosecution proceedings have been initiated for that year.

Belated vs revised vs updated: side by side

How to file each one on the portal

1. Belated: log in, start a new return for AY 2026-27, and choose 139(4) under filing section. Pay tax plus interest and fee through e-Pay Tax before submitting. E-verify within 30 days.
2. Revised: start a new return, choose 139(5), enter the original acknowledgement number and date, correct the details, and submit. E-verify within 30 days.
3. Updated: download the offline utility for the relevant year, select 139(8A), fill Part A-GEN and Part B-ATI of ITR-U with the reason for updating, compute additional tax, pay through challan 280 (minor head 300), and upload the JSON. E-verify within 30 days.

What to do next

If today is before 31 December 2026 and you have not filed, file the belated return now; each month adds 1% interest and the loss carry forward is already gone, so waiting has no upside. If you filed and spotted an error, revise before the same date. If you are past that window for an earlier year, gather the income details and file ITR-U while the additional tax is still at the lower slab.