Missed the ITR Deadline? Your Options for FY 2025-26
The 31 July 2026 deadline for ITR-1 and ITR-2, and the 31 August 2026 deadline for non-audit ITR-3 and ITR-4, have both passed without an extension. You can still file. This guide explains the belated, revised and updated return routes, what each one costs, and what you give up by filing late.
Why it matters
Filing Late Costs More Than the Late Fee
The fee is the cost you see. The bigger costs are easy to miss: losses you can't carry forward, a tax regime you can't change, and refunds that earn less interest.
Losses are lost
Business, speculation and capital losses of the year can't be carried forward on a late return. Only house property loss survives.
You're taxed under the new regime
The choice to stay in the old regime has to be made in a return filed by the due date. A belated return is taxed under the default new regime.
Interest keeps running
Unpaid tax attracts interest at 1% a month under Section 234A from the day after the due date until you pay.
Refunds earn less
On a late return, interest on your refund runs only from the date you file, not from 1 April.
Which deadline applied to you
The Finance Act, 2026 set separate dates depending on whether you need a tax audit, not just on your ITR form. For FY 2025-26 (AY 2026-27):
| Taxpayer | Due date |
|---|---|
| Salary, pension, house property and capital gains (ITR-1 and ITR-2) | 31 July 2026 (passed) |
| Business or profession without tax audit (ITR-3 and ITR-4) | 31 August 2026 (passed) |
| Tax audit cases, including companies | 31 October 2026 |
| Transfer pricing cases | 30 November 2026 |
| Belated return, any taxpayer | 31 December 2026 |
| Revised return | 31 March 2027 |
If your due date is still 31 October, start with our tax audit checklist for AY 2026-27.
Option 1: File a belated return by 31 December 2026
If you haven't filed at all, file a belated return under Section 139(4). It's a normal return filed on the income-tax portal with the belated option selected. Here's what it costs:
- A late fee under Section 234F of ₹5,000, or ₹1,000 if your total income is up to ₹5 lakh. There's no fee if you weren't required to file at all.
- Interest at 1% a month under Section 234A on tax still unpaid, plus interest under Sections 234B and 234C if advance tax fell short.
- Business, speculation and capital losses of the year can't be carried forward.
- The new tax regime applies. The old-regime option isn't available on a late return.
If TDS was deducted from your salary, interest or rent and you're due a refund, the belated return is your last chance to claim it for this year. An updated return can't be used to claim or increase a refund.
How to file a belated return
Download your tax data
Get AIS, TIS and Form 26AS from the income-tax portal, and Form 16 from every employer you worked for during the year.
Collect supporting documents
Interest certificates, capital gains statements from your broker or fund registrar, rent receipts and home loan certificates.
Choose the ITR form
Pick the form that fits your income, using the table further down, and select Section 139(4) as the filing section.
Pay the balance
Pay any tax, interest and late fee as self-assessment tax through the portal before you submit.
E-verify within 30 days
Use Aadhaar OTP, net banking or a bank EVC. If you verify after 30 days, the verification date is treated as the filing date.
Option 2: Revise a return you've already filed
Filed on time but spotted a mistake, such as a missed interest certificate, a wrong bank account or a deduction you forgot? File a revised return under Section 139(5). It replaces the original completely.
- You can revise until 31 March 2027, or until your assessment is completed, whichever comes first. The Finance Act, 2026 extended this window from 31 December.
- Revising is free until 31 December 2026. A revision filed between 1 January and 31 March 2027 attracts a fee of ₹1,000 if your total income is up to ₹5 lakh, and ₹5,000 otherwise.
- You can revise more than once, and a belated return can be revised too.
- Revising doesn't undo the effects of a late original return, such as the late fee or losses that can't be carried forward.
If your AIS shows income you missed, revise before 31 December 2026. It's free, and far quicker than replying to a mismatch notice later.
Option 3: File an updated return (ITR-U)
If both windows have closed, or you need to report income you left out, an updated return under Section 139(8A) can be filed within 48 months from the end of the assessment year. For AY 2026-27, that means by 31 March 2031. You pay the tax and interest, plus an additional tax that rises the longer you wait:
| Filed within | Additional tax on the tax and interest due |
|---|---|
| 12 months (by 31 March 2028) | 25% |
| 24 months (by 31 March 2029) | 50% |
| 36 months (by 31 March 2030) | 60% |
| 48 months (by 31 March 2031) | 70% |
An updated return can't reduce your tax, claim or increase a refund, or declare a loss. It also isn't available once a search or survey has taken place, or while an assessment for that year is pending or completed.
Choosing the right ITR form
| Form | Use it if |
|---|---|
| ITR-1 (Sahaj) | You're a resident individual with income up to ₹50 lakh from salary or pension, up to two house properties and interest, and long-term gains on listed shares or equity funds of up to ₹1.25 lakh |
| ITR-2 | You have larger capital gains, foreign assets or income, more than two house properties, income above ₹50 lakh, a directorship or unlisted shares, and no business income |
| ITR-3 | You have business or professional income and keep books of account |
| ITR-4 (Sugam) | You're a resident using presumptive tax under Sections 44AD, 44ADA or 44AE, with total income up to ₹50 lakh |
| ITR-5, ITR-6, ITR-7 | Firms and LLPs, companies, and trusts or institutions respectively |
New regime tax rates for FY 2025-26
| Taxable income | Rate |
|---|---|
| Up to ₹4 lakh | Nil |
| ₹4 lakh to ₹8 lakh | 5% |
| ₹8 lakh to ₹12 lakh | 10% |
| ₹12 lakh to ₹16 lakh | 15% |
| ₹16 lakh to ₹20 lakh | 20% |
| ₹20 lakh to ₹24 lakh | 25% |
| Above ₹24 lakh | 30% |
Resident individuals with taxable income up to ₹12 lakh pay no tax because of the Section 87A rebate, which works out to ₹12.75 lakh for salaried taxpayers after the ₹75,000 standard deduction. The rebate doesn't cover tax on special-rate income such as capital gains, and 4% health and education cess applies on top of the tax.
Check your AIS before you file
The Annual Information Statement (AIS) shows what banks, employers, brokers and registrars have reported against your PAN. Most income-mismatch notices come from gaps between the AIS and the return, so check:
- Interest on savings accounts, fixed deposits and post office schemes, including accounts you rarely use
- Dividends, and capital gains reported by brokers and mutual fund registrars
- Property purchases or sales of ₹30 lakh or more registered in Vadodara, whether in Gotri, Vasna-Bhayli, Sama or anywhere else
- TDS on rent, commission or professional fees, which must match the income you report
- Large credit card payments and foreign remittances
If an AIS entry is wrong, for example a duplicate or income that belongs to someone else, submit feedback on the portal and keep a record of it.
This guide is general information on Indian tax and corporate law as it stood on 11 September 2026, and is not advice for any particular case. Rules, due dates and forms change, and how they apply depends on your facts. Please confirm the current position before acting, or speak to a qualified professional.
Common situations
Late-Filing Situations We See in Vadodara
If one of these sounds like you, file before 31 December rather than waiting for a notice.
Two employers in one year
Two Form 16s often mean the standard deduction or lower slabs were counted twice, leaving tax to pay. Combine both before filing.
NRIs with income in India
Rent from a Vadodara flat or interest in an NRO account usually has TDS at higher rates, so a return is often needed to get a refund.
Small traders and shop owners
Presumptive tax under Section 44AD keeps the return simple. The 31 August date has passed, so file the belated return now.
Senior citizens
Residents aged 75 or above whose only income is pension and interest from the same specified bank can skip filing by giving the bank a declaration. Others above the exemption limit must file.
Frequently asked questions
Answers to Your Late Filing Questions
I missed 31 July. Can I still file my ITR for FY 2025-26?
Yes. File a belated return under Section 139(4) by 31 December 2026. A late fee of ₹5,000 applies (₹1,000 if your total income is up to ₹5 lakh), plus interest on any unpaid tax.
Will I still get my refund if I file late?
Yes, if you file the belated return by 31 December 2026. Interest on the refund is calculated from the date you file rather than from 1 April. After 31 December, an updated return can't be used to claim a refund.
Can I choose the old tax regime in a belated return?
Generally no. The option to stay in the old regime has to be exercised in a return filed by the due date, and for business income through Form 10-IEA filed on time. A belated return is taxed under the default new regime, which may still work out well if you have few deductions.
My income is below the taxable limit. Do I pay the late fee?
If you weren't required to file, no late fee applies. You are required to file if your income is above the basic exemption limit, or if a trigger applies, such as foreign travel spending above ₹2 lakh, electricity bills above ₹1 lakh, deposits above ₹1 crore in current accounts, or TDS and TCS of ₹25,000 or more (₹50,000 for senior citizens).
I filed on time but forgot some interest income. What should I do?
File a revised return. It's free until 31 December 2026 and allowed until 31 March 2027 with a fee. Pay the extra tax and interest before you revise.
Is there any extension of ITR due dates for AY 2026-27?
The 31 July and 31 August dates were not extended. The tax audit and audited-return dates of 30 September and 31 October 2026 stand unless the CBDT notifies a change.
Pending Return for FY 2025-26? File It Before 31 December.
Send us your Form 16, AIS and bank interest details. We'll check which route applies, work out the tax and file the return with you.
C M Patel & Company, Chartered Accountants
204, Pavan Complex, Jetalpur Road, Jetalpur, Vadodara, Gujarat 390007
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