The deadline for salaried taxpayers and pensioners to file income tax returns (ITR) via form ITR-1 or ITR-2 was 31 July. But the tax calendar for assessment year 2026-27 (fiscal year 2025-26) doesn't end there.
While business and professional filers of ITR-3 and ITR-4 get more time, even those who missed the 31 July deadline get a chance to file a belated ITR, though with a penalty.
Here's a breakdown of which ITR filing deadlines are yet to come and what it takes to file late.
31 August and 31 October: ITR-3 and ITR-4
Taxpayers with business or professional income who use ITR-3 or ITR-4 and whose accounts don't require a tax audit have until 31 August to file. This includes freelancers, consultants, and small business owners whose incomes are below the audit threshold. Even salaried individuals with freelance income have to file ITR-3 or ITR-4.
This extra month was introduced this year specifically to give non-audit business filers more time to close their books.
Those whose accounts need an audit under Section 44AB, typically businesses with a turnover above ₹1 crore (if cash receipts are >5%; else ₹10 crore turnover for audit) or professionals with gross receipts above ₹50 lakh, get until 31 October. Their auditor has to file the audit report by 30 September, a month before the return itself is due. If you're a partner in a firm, your personal ITR-3 deadline is determined by the firm's audit status, not your own.
31 December: Belated ITR
If you missed your applicable deadline—31 July for ITR-1 and 2, and 31 August for ITR-3 and 4—you can still file ITR under Section 139(4), known as a belated return, until 31 December 2026. However, it comes at a cost.
You'll pay a late fee of ₹1,000 under Section 234F if your total income is less than ₹5 lakh, and ₹5,000 if it's more. On top of that, interest under Section 234A applies at 1% a month on any unpaid tax from the original due date.
A belated return also strips you of the right to carry forward certain losses, such as capital or business losses, to future years, though losses from house property can still be carried forward.
31 December: Revised return
A revised return under Section 139(5) is for taxpayers who filed on time but later spot an error, a missed deduction, wrong bank details or unreported income. Any such errors can be corrected by revising the return by 31 December. The final deadline for a revised ITR is 31 March 2027, but any revised return filed after 31 December will attract a ₹1,000/ ₹5,000 penalty, the same as a belated ITR.
You can revise as many times as needed within that window, each fresh version replacing the earlier one. If the correction increases your tax liability, interest under Section 234B or 234C may apply on the shortfall, but the act of revising itself doesn't attract a fee if done before 31 December.
Updated ITR—the last option for voluntary disclosures
ITR-U, filed under Section 139(8A), is for taxpayers who want to voluntarily correct an old tax return or file one they skipped altogether, even years after the usual deadlines have closed. The window now runs 48 months from the end of the relevant assessment year, so this year it covers AY23 through AY26. It can only be used to report additional income or to pay more tax, and it is not allowed to claim a refund, increase a loss, disclose a missed field, like Schedule FA (foreign assets) or Schedule AL (assets and liabilities), that doesn't change income, or reduce tax already assessed.
Filing ITR-U has steeper penalties than a belated or revised return. An additional tax is charged on the tax and interest due: 25% if filed within 12 months of the assessment year's end, 50% within 24 months, 60% within 36 months, and 70% within 48 months.
Say someone forgot to report freelance income for FY23 (AY24). That assessment year ended in March 2024, so filing an ITR-U in August 2026 falls in the 24-to-36-month window. They'd first pay the tax and interest due on that income, then an additional 60% of that combined amount as the ITR-U penalty, before the return is accepted.
It should be noted that the belated, revised, and ITR-U routes exist as fallbacks, not as substitutes for the original deadline. Also, after submitting your ITR, you must e-verify it within 30 days; otherwise, the ITR won’t be processed.