Income Tax: Last date to file revised or belated ITR is 31 December — key questions answered

The due date to file the income tax return (ITR) for FY 2024-25 ended on 16 September after two extensions. However, if you now realise that you made some mistake while filing your return and therefore want to file a revised return under section 139(5), then you can very well do that before 31 December 2025.

There are certain scenarios in which you can file a revised return, but these do not include the filing of a return after an inquiry notice by the assessing officer under section 142(1). Let us understand more about the different nuances of filing a belated or revised tax return.

What is a belated tax return?

When you file a return after the expiry of the original due date specified under section 139(1), a return of income is referred to as a belated return. “Belated ITR can be filed upto 31st December in case you have Income that you have not disclosed or have Tax refund. After 31st December, the taxpayers don’t have option to claim Income Tax Refund if any,” says CA Pratibha Goyal, partner, PD Gupta & Company.

What is the deadline to file a belated income tax return?

A belated return for FY 2024-25 can be filed before 31 December 2025. The general rule is that it can be filed any time three months before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

What are the scenarios in which a belated or revised return is filed?

There are several scenarios which include missing out on any income or deduction, for example, a wrong TDS claim or underreporting of income.

“If taxpayers take professional help, they generally do not need to file a belated or revised return. However, if they file it on their own, there is a chance of mistakes creeping in. Therefore, they may have to file a belated return on account of any human error,” says CA Chirag Chauhan of CA Chauhan & Company in Mumbai.

What is a revised filing of return?

If a taxpayer overlooks including important information or makes an error in the ITR, the mistake can be corrected by filing a revised tax return. The mistake could be an unintentional error or omission.

“In case taxpayer has found that they have made any inadvertent mistake in ITR like missed Foreign Asset Schedule, shown incorrect income or Income under wrong head, claimed excess deduction etc, can file revised ITR,” adds CA Pratibha Goyal.

Are there any consequences of filing a belated return?

There are several benefits available to taxpayers who file their income tax returns on or before the due dates. Apart from losing these benefits, a late filing fee and interest are also recovered from the taxpayers for filing a belated return.

Can all the tax returns be revised?

No, only a return which is filed under section 139(1) or a belated return filed under section 139(4) can be revised. Suppose you filed a return pursuant to notice under section 142(1), it cannot be revised under section 139(5).

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