ITR Tax Return Deadline: The Income Tax Department of India allows people to fix mistakes in their income tax returns if they filed them wrong or missed filing on time. This option comes under Section 139(5) of the Income Tax Act. It helps taxpayers correct errors without trouble.
If you want to file a revised return or a belated return, the government has fixed a clear last date. You must do it by 31 December of the relevant assessment year or before the tax department completes its assessment. For people filing returns for the financial year 2024-25, which is assessment year 2025-26, the final deadline is 31 December 2025. After this date, the system will not allow any revision or late filing.
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Tax experts say people should not wait till the last moment. “Taxpayers who file a belated income tax return can revise it, just like an original return. However, the revision window closes on 31 December. For example, for the year 2024-2025, the revision due date is 31 December 2025. After this date, neither filing a belated return nor revising it is allowed,” said Sudhakar Sethuraman, Partner at Deloitte India.
What Happens After December 31 Deadline?
Once the 31 December deadline passes, taxpayers cannot revise their return in the normal way. However, experts say there are still limited options available in special cases.
Mihir Tanna, Associate Director of Direct Tax at SK Patodia & Associate LLP Chartered Accountants, explained that changes are still possible through special routes. “Technically, a person can not revise its return after 31st December. However, a person can change and revise data through ‘Updated Return’ or by filing ITR if the application of condonation is accepted,” said Tanna.
An Updated Income Tax Return allows eligible taxpayers to correct mistakes or missed income. But this option comes with conditions. The taxpayer must pay extra tax along with interest on any income that was not shown earlier. This method cannot be used to claim refunds or reduce tax dues.
“Before filing an updated return, the taxpayer needs to pay an additional tax (plus interest) on the undisclosed income. It cannot be used to claim a refund or reduce a tax liability,” the expert told Mint.
Condonation of Delay
Another option available after the deadline is condonation of delay. This applies only in genuine hardship cases. The taxpayer must apply to the Income Tax Department and request permission to file the return late.
“Regarding condonation of delay, an application can be filed with prescribed authority for filing income tax returns for claiming refunds or carry forward of losses. Authorities are prescribed to accept or reject such claims based on monetary limits,” said Tanna.
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Why should you file a revised return?
- In case the taxpayer has mistakenly omitted, reduced, or exaggerated their income.
- In case the taxpayer omitted deductions or claimed excess deductions or exemptions on their initial return.
- In case of miscalculations or missed necessary disclosures in their filing.
- In case the taxpayer had chosen the wrong ITR form.
- In case the taxpayer claimed less refund than they were eligible for.
