Revised return vs belated return: which one can you still file and until when

You filed nothing by 31 July 2026, or you filed in a hurry and later spotted a mistake. Two different reliefs sit in the same section of the Income-tax Act, 1961 - the belated return under section 139(4) and the revised return under section 139(5) - and readers routinely confuse them. They answer opposite questions, run on different clocks, and one of them is not available to you at all if you never filed in the first place. This guide sets out exactly which door is still open for Assessment Year (AY) 2026-27 and until when.

The Scenario

Consider two salaried readers, both looking at AY 2026-27 (the year that assesses income earned in Financial Year 2025-26). The original due date under section 139(1) for individuals who are not subject to audit was 31 July 2026. Reader A missed it entirely - no return was filed by 31 July 2026. Reader B did file on 28 July 2026 but afterwards realised she forgot to report Rs 47,000 of savings-bank and fixed-deposit interest that appears in her Annual Information Statement.

Reader A needs a belated return under section 139(4). Reader B needs a revised return under section 139(5). The distinction is not cosmetic: a revised return can only correct a return that already exists, so Reader A cannot use section 139(5) until he has first filed something. Get the assessment year right too, because every deadline below is anchored to it.

Statutory Answer

Both reliefs live in section 139 of the Income-tax Act, 1961, and both survive unchanged even though the new Income-tax Act, 2025 has since come into force - a return for AY 2026-27 continues to be governed by the 1961 Act. The text of section 139 is available on the official statute portal at indiacode.nic.in and the filing rules are explained in the Income Tax Department's e-filing FAQs at incometax.gov.in.

A belated return under section 139(4) may be furnished by any person who did not file within the section 139(1) time limit. For AY 2026-27 it may be filed on or before 31 December 2026, or before the completion of the assessment, whichever occurs earlier. Filing late triggers a fee under section 234F.

A revised return under section 139(5) may be filed by a person who has already furnished a return under section 139(1) or under section 139(4), on discovering any omission or wrong statement in it. For AY 2026-27 it may be filed at any time before 31 March 2027 (three months before the end of the assessment year - the assessment year itself ends 31 March 2027), or before completion of the assessment, whichever is earlier. Since the Finance Act, 2016 rewrote section 139(5), even a belated return can now itself be revised - a point the department confirms in its e-filing FAQs.

The table below fixes the two clocks side by side.

Worked Resolution

Take Ms Ananya, a salaried employee whose gross salary for FY 2025-26 was Rs 15,75,000 and who is taxed under the default new regime. After the standard deduction of Rs 75,000 (new regime), her total income is Rs 15,00,000. Because this exceeds Rs 12,00,000, she gets no section 87A rebate (the rebate is Rs 60,000 and applies only up to a total income of Rs 12,00,000 in the new regime for FY 2025-26).

Her tax on the FY 2025-26 new-regime slabs works out as follows. You can reproduce every line in the income tax calculator, and compare regimes with the old vs new regime tool.

Suppose Ms Ananya's employer deducted Rs 69,200 as TDS, leaving Rs 40,000 of self-assessment tax unpaid, and she forgot to file by 31 July 2026. If she now files a belated return on 20 November 2026, two levies apply on top of the Rs 40,000.

First, the section 234F late-filing fee. Because her total income of Rs 15,00,000 exceeds Rs 5,00,000, the fee is Rs 5,000. Second, section 234A interest at 1% for every month or part of a month of delay, charged on the Rs 40,000 shortfall from 1 August 2026 until she files. Filing on 20 November 2026 spans four months (August, September, October and the part-month of November), so the interest is 4% of Rs 40,000, that is Rs 1,600.

The section 234F fee is capped at Rs 1,000 where total income does not exceed Rs 5,00,000, so a reader below that threshold filing the same belated return would pay Rs 1,000 rather than Rs 5,000. Check the deducted-tax side of the arithmetic in the TDS calculator so the shortfall figure you carry into section 234A is right.

Now contrast Reader B, who filed on time on 28 July 2026 and then found the missing Rs 47,000 of interest income. She files a revised return under section 139(5). There is no section 234F fee for revising, because she was never late; she pays only the additional tax on the Rs 47,000 plus any section 234B or 234C interest attributable to it. She may file that revision any time up to 31 March 2027, and if she spots a further error she can revise again - section 139(5) sets no limit on the number of revisions, provided each is within the window and before assessment.

FAQ

Can I file a revised return if I only filed a belated return?

Yes. Since section 139(5) was amended by the Finance Act, 2016, a return furnished under section 139(4) can itself be revised. For AY 2026-27 the revision must reach the portal on or before 31 March 2027 or before the assessment is completed, whichever is earlier, per the e-filing FAQs at incometax.gov.in.

What is the last date to file a belated return for AY 2026-27?

31 December 2026, or the date the assessment is completed if that happens sooner. After 31 December 2026 you cannot file an ordinary return at all for that year; your only route is an updated return under section 139(8A), which carries additional tax and its own longer window.

How much is the late fee under section 234F?

Rs 5,000 if total income exceeds Rs 5,00,000, and Rs 1,000 if total income is Rs 5,00,000 or less. The fee is a fixed amount under section 234F of the Income-tax Act, 1961, and is separate from section 234A interest on any unpaid tax.

Does revising a return attract a penalty?

No separate late fee applies to a revision under section 139(5) itself. If the revision increases your tax, interest under sections 234B and 234C can apply on the additional liability, but there is no section 234F fee merely for revising a return that was originally filed on time.

I missed 31 December 2026 as well - is there any option left?

An updated return under section 139(8A) may still be possible. It is designed for taxpayers who missed the belated deadline or under-reported income, and it requires payment of additional tax over and above the normal liability. It cannot be used to claim a tax refund or to reduce your declared income.

Will a belated return delay my refund?

A belated return is processed like any other filed return, but you forfeit interest under section 244A for the period of delay attributable to you, and processing can only begin after the return is filed and e-verified. Filing well before 31 December 2026 avoids compressing the refund timeline.

Can I switch tax regimes in a belated return?

For AY 2026-27, a salaried individual filing a belated return under section 139(4) is confined to the default new regime; the option to choose the old regime under section 115BAC is available only when the return is filed within the section 139(1) due date. Model both outcomes in the new-regime calculator before you file so there are no surprises.