Missed ITR Filing Deadline? You Can Still File a Belated Return for AY 2026-27; Here's What You Need to Know:

The Income Tax Return (ITR) for Assessment Year (AY) 2026-27 has a deadline of July 31, but taxpayers who missed this date can still adhere to the tax laws by filing a belated return.

A return for a belated period can be filed under Section 139(4) of the Income Tax Act, 1961 before the completion of the assessment or before 31st December 2026, whichever is earlier.

How to file a return after the deadline

Filing a belated return is almost an identical process to filing a normal ITR. Taxpayers have to:

• Log in to the e-filing portal of the Income Tax Department.

• Choose AY 2026-27 and the correct ITR form.

• Select the belated return to be filed under Section 139(4).

  

• Add the required details.

• Pay any pending tax along with applicable interest and late filing fee, if required.

• Submit the return and complete the e-verification process.

What Happens If You File Late?

Taxpayers can file a return after the due date, but that can lead to financial and tax-related consequences including:

• Section 234F – late filing fee of Rs 1,000 if total income is up to Rs 5 lakh or Rs 5,000 if total income is more than Rs 5 lakh

• Interest on any outstanding tax liability, if any.

• Processing and receiving tax refunds is delayed.

• Loss of the benefit of carrying forward certain losses, including business losses and capital losses, to future tax years.

Filing late can mean extra costs and lost tax benefits, especially those involving the carryforward of eligible losses, a tax expert says, but not filing by the original due date doesn’t mean taxpayers can’t file their return.

Can you get a refund through a late return?

Yes. You can still get a tax refund if you file a late return.

However, some options may be limited if you file after the original deadline. For instance, in some cases, taxpayers may not be able to change their tax regime after the due date, which could affect their final tax liability and refund amount. And some losses that would otherwise have been available for carry forward may not be available.

A tax expert also warned taxpayers against waiting until the final day of the belated filing window, as technical problems, missing documents or last-minute errors could delay successful filing.

Can a late-filed return be amended?

Yes. If there is any error or omission found later, a belated return can be amended. Revised return for AY 2026-27 shall be filed as per the relevant provisions of Income Tax Act on or before 31st December 2026.

What if you don’t meet the December 31 deadline?

Taxpayers may still be able to file an Updated Return (ITR-U) under section 139(8A) as per the laid down conditions even if belated return is not filed by 31st December 2026.

However, you may not use an updated return to:

• claim additional deductions.

• Lower tax bill.

• Increase the refund amount.

• Taxpayers filing an Updated Return may be liable to pay additional tax as per the provisions of the Income Tax Act .

Last Date to File Belated Return

The last date of filing belated return u/s 139(4) for the assessment year 2026-27 is 31st December, 2026 or before the completion of assessment, whichever is earlier.

According to Section 234F, the penalty for late filing is Rs 1,000 if total income is up to Rs 5 lakh and Rs 5,000 in other cases.