You get three chances to fix a filed return. They close in that order. A revised return fixes an error at no extra cost. A belated return is a late first filing. It carries a fee. An updated return, ITR-U, reopens a shut year. You get up to 48 months from the end of the assessment year. But only if you are paying more tax.
One rule catches people out. An updated return can never cut your tax. It cannot raise a refund. It cannot enlarge a loss. It is a one-way door.
Which return do I need?
| Situation | What to file | Deadline | Cost |
|---|---|---|---|
| You filed on time and found a mistake | Revised return, section 139(5) | See the conflict noted below | Nil, plus tax and interest due |
| You missed the due date entirely | Belated return, section 139(4) | 31 December of the assessment year, or before the assessment is completed | ₹1,000 if total income is up to ₹5,00,000; ₹5,000 otherwise |
| The revised and belated windows have both closed | Updated return, ITR-U | Up to 48 months from the end of the assessment year | Extra tax under Section 267, plus tax and interest |
| You want a refund or a lower tax | None of the above | — | ITR-U is barred if it cuts tax, raises a refund or grows a loss |
Figures as of 6 September 2026. Source: the Income Tax Department e-filing portal and this site’s tax dataset.
What is the deadline for a revised return?
Two sources we hold do not agree. You should know that before you plan.
The department’s own help page sets the revised return limit this way. It says: “before the expiry of the relevant assessment year (i.e. before 31st March, 2027 for AY 2026-27) or before completion of assessment, whichever is earlier”. Our tax dataset gives one date instead. It puts belated and revised returns together at 31 December.
The safe move is to treat 31 December of the assessment year as your date. That date works under both readings. Filing between January and March leans on the longer reading. It also fails if your assessment is already done.
Note the second half of the rule too. Once the assessment is done, the window shuts. The date on the calendar stops mattering.
How does ITR-U work?
ITR-U lets you go back and declare income you left out. You may file it whether or not you filed for that year at all. The portal is clear that the section survives the new Income-tax Act. An updated return may still be filed within the time set, even after the new Act starts.
Two hard limits apply. You get one updated return per tax year. And it must not cut your total tax, raise a refund, or grow a loss.
So ITR-U is a way to declare, not a way to correct. If the mistake cost you money, ITR-U will not give it back. If it cost the exchequer money, ITR-U is how you settle up first.
What extra tax does ITR-U cost?
Extra tax is due under Section 267 of the new Act. It is paid with the updated return, at set rates. The rate climbs in steps the longer you wait.
We are not printing the step table here. We could not open a primary source for the current rates and bands. A made-up band would make you pay the wrong sum. Work the figure out in the ITR-U utility on the portal. It applies the rate for you. Check it against your own sums before you pay.
Whatever the extra tax comes to, it sits on top of the tax and the interest. Underpay during the year and interest on advance tax runs too. Our page on advance tax shows how that interest builds.
What should I check before I refile?
Most fixes come from a mismatch, not a change of mind. Pull your Annual Information Statement and Form 26AS first. The usual culprits are simple. Interest on a forgotten fixed deposit. A share sale. Pay from a second employer. Our guide to Form 16 and Form 26AS shows how to match them up.
Then see if the change moves you across a regime. A big addition can flip which of the two tax regimes suits you. The choice you made may not be open to change now. Gains from sales have their own reporting shape. Our capital gains tax page sets it out.
Is it better to wait for a notice?
No. This is the hard part. Waiting does not hide the income. The department already sees most of it in reported data. Waiting only turns a voluntary filing into a case. And it takes the choice of terms out of your hands.
The extra tax on ITR-U is meant to sting. It is still cheaper than the other road. And it is far cheaper than the same news told under scrutiny.
Frequently asked questions
How many times can I revise my income tax return?
You may revise more than once inside the window. That holds until it shuts, or until the assessment is done. An updated return is different. You get one per tax year.
Can I file ITR-U to claim a refund?
No. An updated return must not cut your total tax. It must not raise a refund or grow a loss. Those cases sit outside the section.
How far back can I file an updated return?
Up to 48 months from the end of the assessment year, with extra tax. That window sits in our tax dataset. It matches how the department describes the section.
What is the penalty for filing a belated return?
The fee is ₹1,000 if your total income is up to ₹5,00,000. It is ₹5,000 in every other case. Interest on unpaid tax is charged on top.
Can I file a revised return after a belated return?
Yes. You may revise a belated return too. It must be inside the same window, and before the assessment is done. Safest is to fix it well before 31 December of the assessment year.
Does filing ITR-U stop a notice?
It does not stop the department acting. But it puts a voluntary, tax-paid filing on record first. That is a much better place to start from.
Sources
- Income Tax Returns, help pages on the Income Tax Department e-filing portal. Time limits for revised, belated and updated returns, the late filing fee, and extra tax under Section 267. incometax.gov.in
- Credsir tax dataset, financial year 2026-27 and assessment year 2027-28, as of 17 August 2026, sourced from incometax.gov.in.
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