The Income Tax (I-T) Department allows taxpayers to correct mistakes in their income tax returns by filing a revised or belated ITR under Section 139(5) of the Income Tax Act. This provision helps individuals
fix errors or omissions made while filing their original returns. However, this flexibility comes with a strict deadline that taxpayers must be aware of.
If you wish to file a revised or belated income tax return, it must be done on or before December 31 of the relevant assessment year or before the completion of assessment by the tax department, whichever is earlier.
For income earned in the financial year 2024–25 (assessment year 2025–26), the last date to file or revise a belated ITR is December 31. Once this deadline passes, taxpayers can no longer revise or submit a belated return through the standard process.
“Taxpayers who file a belated income tax return can revise it, just like an original return. However, the revision window closes on 31 December,” said Sudhakar Sethuraman, Partner at Deloitte India.
Can You Revise ITR After December 31?
Technically, revising an ITR after the December 31 deadline is not permitted. However, there are limited alternatives available under specific conditions.
Mihir Tanna, Associate Director of Direct Tax at SK Patodia & Associate LLP, explained that taxpayers may still correct their tax details through an Updated Return or by filing an ITR if a condonation of delay application is approved by the Income Tax Department.
What Is An Updated Income Tax Return?
An updated ITR allows eligible taxpayers to rectify errors or omissions in a previously filed return. However, it comes with conditions:
– Additional tax and interest must be paid on undisclosed income.
– It cannot be used to claim refunds or reduce existing tax liability.
“This option is meant for voluntary compliance and not for lowering tax dues,” Tanna clarified.
Condonation Of Delay: Another Route
In cases of genuine hardship, taxpayers can apply for condonation of delay to claim refunds or carry forward losses. Such applications are reviewed by prescribed authorities and approved or rejected based on monetary limits and circumstances.
While penalties and interest may apply, this route offers relief to those who missed deadlines due to valid reasons.
Why Should You File A Revised Return?
According to ClearTax data, a revised ITR should be filed if:
– Income was omitted, understated, or overstated
– Deductions or exemptions were wrongly claimed or missed
– There were calculation errors or missing disclosures
– An incorrect ITR form was used
– A lower refund was claimed than was eligible
– Filing a revised return within the allowed timeframe ensures compliance and helps avoid future scrutiny or penalties.
