Filing a belated return is 31st December 2025

 

The date 31st December is a very important deadline for Income Tax Return (ITR) filing in India, specifically for filing a Belated Return or a Revised Return for the relevant Financial Year (FY).

Belated and Revised Return Deadline (31st December)

  • Belated Return (Section 139(4)): This is the last date to file your Income Tax Return if you missed the original due date (which is typically 31st July for individuals not requiring an audit, or a later date for others, and was September 16, 2025 for FY 2024-25 in the latest news).
    • Deadline: December 31st of the relevant Assessment Year (AY).
    • Example: For the income earned in Financial Year 2024-25 (Assessment Year 2025-26), the deadline for filing a belated return is 31st December 2025.
  • Revised Return (Section 139(5)): This is also the last date to file a revised return if you have already filed your original ITR but later discover errors or omissions.

Consequences of Filing a Belated Return

Filing a Belated Return (between the original due date and December 31st) still ensures compliance but attracts penalties and other limitations:

Consequence

Details

Late Filing Fee (Sec 234F)

* Income > ₹5,00,000: ₹5,000

* Income ≤ ₹5,00,000: ₹1,000

Interest on Unpaid Tax (Sec 234A)

Interest of 1% per month (or part of a month) is charged on the unpaid tax amount from the original due date until the date of filing.

Loss of Benefits

You cannot carry forward certain losses (like business losses or capital losses) to set off against future income, though loss from House Property can still be carried forward.

Delayed Refund

Processing of your tax refund may be delayed.

Loss of Carry Forward Benefits   You cannot carry forward most losses (like business losses, capital losses) to set off against future income, except for loss from House Property and Unabsorbed Depreciation.

No Option to Change Tax Regime You generally lose the option to switch from the default New Tax Regime (Section 115BAC) to the Old Tax Regime if you file a belated return.

 

Filing an Updated Return (ITR-U - Section 139(8A))

This is the final window for voluntary compliance, recently extended from 2 years to 4 years from the end of the Assessment Year (i.e., until March 31, 2030 for FY 2024-25).

  • Purpose: To report income that was missed or not reported correctly, and to pay the tax due on it.
  • Additional Tax Liability: You must pay an additional tax (which is a percentage of your total tax and interest liability) depending on when you file:
    • Within 12 months from the end of the AY: 25% additional tax.
    • Between 12 and 24 months: 50% additional tax.
    • Between 24 and 36 months: 60% additional tax. (As per recent changes)
    • Between 36 and 48 months: 70% additional tax. (As per recent changes)
  • Restriction: ITR-U cannot be filed to claim a refund or reduce your total income/tax liability.
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Location: India

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