Plenty of taxpayers miss the ITR due date, discover an error after filing, or realise years later that some income went unreported. The law gives you three different routes for these situations, and using the wrong one wastes time or money. The belated return, the revised return, and the updated return each solve a different problem.
This guide explains what each return does, the deadlines that govern them, and the cost of each, so you pick the right one.
Quick Answers
- Belated return - filed after the due date but within the belated window, with a late fee.
- Belated window for AY 2026-27 - up to 31 December 2026 under Section 139(4).
- Revised return - a correction to an already filed return, allowed under Section 139(5).
- ITR-U - an updated return under Section 139(8A) to report missed income after the other windows close.
- ITR-U window - up to 48 months from the end of the relevant assessment year.
- ITR-U cost - additional tax of 25 to 70 percent of the tax and interest, depending on timing.
What Are These Three Returns?
A belated return is a return filed after the original due date but within the time allowed under Section 139(4) of the Income Tax Act, 1961. A revised return, under Section 139(5), corrects an error in a return already filed. An updated return, or ITR-U, under Section 139(8A), lets you report previously unreported income well after the other windows have closed.
In short, the belated return is for late filers, the revised return is for fixing mistakes, and ITR-U is the last-resort safety net for missed income.
Key Terms Explained
- Belated return (Section 139(4)) - filed after the due date, up to 31 December of the assessment year.
- Revised return (Section 139(5)) - corrects a return already filed, within the assessment year.
- Updated return / ITR-U (Section 139(8A)) - reports missed income within 48 months, with additional tax.
- Section 234F - the late fee that applies to a belated return.
- Section 140B - governs the tax, interest, and additional tax payable with an ITR-U.
Deadlines for AY 2026-27
For AY 2026-27, the belated return can be filed up to 31 December 2026 under Section 139(4). A revised return under Section 139(5) can be filed before the end of the assessment year, that is before 31 March 2027, or before the assessment is completed, whichever is earlier.
Once those windows close, ITR-U under Section 139(8A) remains available for up to 48 months from the end of the assessment year, even though the new Income Tax Act, 2025 has since come into force.
How to Decide and File, Step by Step
- Identify your situation - did you miss the deadline, make an error, or discover missed income from a past year?
- Missed the deadline but still within the year - file a belated return under Section 139(4) before 31 December 2026.
- Filed but made a mistake - file a revised return under Section 139(5) before the assessment year ends.
- Both windows closed, income was missed - file ITR-U under Section 139(8A) within 48 months.
- Compute the cost - add the Section 234F late fee for belated returns, or the additional tax under Section 140B for ITR-U.
- File and e-verify - submit on the portal and e-verify within 30 days.
ITR-U Additional Tax by Timing
| When ITR-U is filed (from end of AY) | Additional tax on tax plus interest |
|---|---|
| Within 12 months | 25% |
| Within 24 months | 50% |
| Within 36 months | 60% |
| Within 48 months | 70% |
Common Mistakes
- Treating ITR-U as a refund route - the return is invalid, because ITR-U cannot reduce tax or increase a refund. Use it only to report additional income.
- Waiting too long to file ITR-U - the additional tax climbs from 25 percent to 70 percent. File as early as possible within the window.
- Forgetting to e-verify a belated return - the late return is treated as not filed. E-verify within 30 days of submission.
Penalties and Consequences
A belated return attracts a late fee of Rs 5,000 under Section 234F, reduced to Rs 1,000 where total income does not exceed Rs 5 lakh, along with interest under Section 234A on any unpaid tax.
An ITR-U carries additional tax of 25 to 70 percent of the tax and interest under Section 140B, depending on when it is filed within the 48-month window.
ITR-U cannot be filed where a search, survey, or assessment proceeding is underway, and it can be filed only once for a given assessment year.
Belated vs Revised vs ITR-U
| Feature | Belated | Revised | ITR-U |
|---|---|---|---|
| Section | 139(4) | 139(5) | 139(8A) |
| Purpose | File late | Fix errors | Report missed income |
| Deadline (AY 2026-27) | 31 Dec 2026 | 31 Mar 2027 | 48 months from AY end |
| Extra cost | 234F late fee | None | 25% to 70% additional tax |
Key Takeaways
- A belated return is for late filing, up to 31 December 2026 for AY 2026-27, with a Section 234F late fee.
- A revised return fixes errors in a filed return, until the assessment year ends.
- ITR-U reports missed income within 48 months, with 25 to 70 percent additional tax.
- ITR-U cannot reduce tax or create a refund, and can be filed only once per year.
- File as early as possible, since delay raises the ITR-U additional tax.
Frequently Asked Questions
Can I file my ITR after 31 December 2026 for AY 2026-27? Not as a belated return. After that, your only route to report missed income is an updated return (ITR-U) under Section 139(8A), with additional tax.
What is the difference between a revised and an updated return? A revised return corrects a filed return within the assessment year, while an updated return reports missed income later, within 48 months, with extra tax.
How much extra tax does ITR-U cost? It ranges from 25 percent of the tax and interest if filed within 12 months, rising to 70 percent if filed within 48 months.
Can I use ITR-U to claim a refund? No. ITR-U cannot reduce your tax liability or increase a refund. It is only for reporting additional income.
Can a belated return be revised? Yes. A belated return can be revised under Section 139(5) within the same assessment year, before the assessment is completed.
Can I file ITR-U if I never filed an original return? Yes. ITR-U can be filed even if no original or belated return was filed, and the Section 234F late fee then also applies.
Need Help Fixing a Late or Wrong Return?
Choosing between a belated, revised, or updated return, and computing the right additional tax, gets tricky fast. Regikart's CA & CS team handles late and updated filings end to end. Reach out at [email protected] or +91 70444 94804.
About the author
Ganesh
Senior Advisor at Regikart. Want to discuss this in the context of your business?
