Revised ITR Rules from FY 2026-27: Fees, Deadlines, and Key Changes Explained:

Revised ITR Rules from FY 2026-27: Fees, Deadlines, and Key Changes Explained From Tax Year 2026-27 onwards, if your total income is more than Rs. 5 lakh and you file a revised income tax return, you will have to pay a fee of Rs. 5,000. If your total income is below Rs.5 lakh, the fee will be only Rs.1,000. Along with this, the Finance Bill 2026 also proposes to give taxpayers more time by extending the deadlines for filing both normal and revised returns in some cases. Current Rule for Revised ITR Filing Section 263(5) of the Income-tax Act, 2025 allows a taxpayer to correct mistakes in their income tax return. If a person has already filed their return (either on time or late) and later realises that they have made an error, missed some income, or entered wrong information, they are allowed to file a revised return. This helps taxpayers fix genuine mistakes and give correct details to the tax department. The law gives a time limit for filing a revised return. It must be submitted within 9 months from the end of the relevant tax year or before the tax assessment is completed, whichever happens first. After this period, revision is not allowed. Through this provision, taxpayers can correct details related to their income, deductions, exemptions, losses, or any other information given in the original return. This ensures that the final tax record is accurate and reflects the true financial position of the taxpayer.

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Budget 2026: New Income Tax Law and Its Impact on ITR Filing

Proposed rule for revised ITR filing The government has proposed a new rule to give taxpayers more time to correct their income tax returns. Under the new proposal, taxpayers will be allowed to file a revised return up to 12 months after the end of the tax year. This means they will get 3 extra months to fix mistakes in their returns. However, the time limit for belated returns will remain the same (9 months). Only revised returns will get the extended time. The Income-tax Act, 2025, is proposed to be changed (Section 263(5)) to make this new 12-month rule official. Also, if someone files a revised return after 9 months but before 12 months, they may have to pay a fee under Section 428(b). What are the new ITR filing due dates? There is no change in the ITR filing due date for general taxpayers. However, the Finance Bill has proposed to extend the deadline for non-audit business cases and trust cases. According to the budget memorandum, the due date for filing Income Tax Returns (ITR) for most taxpayers remains 31st July. This includes individuals who file ITR-1 and ITR-2. However, the Finance Bill has proposed an extension for certain taxpayers. For people who earn income from business or profession but do not require an audit, the due date will be extended from 31st July to 31st August. This extended deadline will apply to:

• Partners of such firms
• Spouses of such partners (if Section 10 applies to them)
• Individuals who file ITR-1 and ITR-2

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Big Relief for Taxpayers: Govt Extends ITR Due Dates and Revised Return Timeline

ITR Filing Dates for Tax Year 2026-27 The following deadlines apply for filing ITRs for Tax Year 2026-27 and subsequent tax years:

Person / Category	Conditions	Due Date
Assessee, including partners of a firm, or spouse of such partner (if Section 10 applies)	Where the provisions of Section 172 apply	30-Nov
(A) Company (B) Assessee (other than company) whose accounts are required to be audited under this Act or any other law (C) Partner of an audited firm, or spouse (if Section 10 applies)	Where the provisions of Section 172 do not apply	31-Oct
(A) Assessee having income from business/profession whose accounts are not required to be audited (B) Partner of a non-audited firm, or spouse (if Section 10 applies)	As above	31-Aug
Any other assessee	—	31-Jul

Fee structure under Revised Return The government proposed the following fee structure for filing revised returns: If a revised return is filed after nine months from the end of the relevant assessment year:

• The filing fee is Rs. 1,000 if the total income does not exceed Rs. 500,000.
• The filing fee is Rs. 5,000 if the total income exceeds Rs. 500,000.