income tax return
The Income Tax Department has informed hundreds of taxpayers through SMS and email that their refund has been withheld due to an error in their income tax return. These taxpayers have been advised to file revised income tax returns by December 31, 2025, which is the last date for filing such returns. The latest crackdown by the Income Tax Department on taxpayers whom the department believes have claimed excess refunds has left many people confused.
The email sent by the Income Tax Department said that since the deadline for filing revised income tax return for assessment year 2025-26 is ending on December 31, 2025, you are requested to take advantage of this opportunity to file the revised return within the due date, if necessary. Alternatively, you can file an updated return from January 1, 2026, however, additional tax liability will apply.
In such a situation, it is important to know what types of income tax returns you can file after the due date of filing the original income tax return. You can file a revised return or a belated return, but these two are different from each other. Let us also tell you what is the difference between the two.
What is revised income tax return?
While filing the original Income Tax Return (ITR), taxpayers often enter wrong details or ignore certain things. However, these mistakes can be rectified by filing a revised return under Section 139(5) of the IT Act, 1961. Through this, taxpayers can correct their errors, including missing income, deductions or incorrect calculations, by filing a revised income tax return. If the taxpayer shows increased or decreased refund amount as compared to the taxes paid by him, it can still be filed.
What is belated income tax return?
On the other hand, belated income tax return is the income tax return which can be filed by the taxpayer after missing the due date of filing income tax return as per Section 139(1) of the IT Act. Such returns can be filed by December 31 of the relevant assessment year, but there is a penalty on this. If you have missed the due date, a belated income tax return can be filed to avoid the consequences of not filing the original income tax return.
Why is it necessary for you to file a revised return?
Revised return is filed to correct any errors in the original Income Tax Return (ITR). These mistakes may include omission of income, under or overstatement of income, excess deductions, selection of wrong income tax return form, claiming more or less refund than the eligible amount etc. Speaking to Mint, ClearTax’s tax expert CA Shefali Mundra said that there is no penalty for filing revised returns within the prescribed deadline.
What is the difference between revised return and billeted return?
Speaking to Mint, Mundra said that a revised return is filed to correct the mistakes or deficiencies in the earlier filed return (be it original or delayed). It can be filed before 31st December of the relevant assessment year or before the department completes the assessment. The revised return is linked to the original income tax return, and the taxpayer can make corrections without any penalty and does not have to pay additional tax and interest.
At the same time, billed income tax return is different from revised return. According to Mundra, returns filed after the original due date of filing returns (which is usually July 31 for individual taxpayers) are called belated returns and are subject to late fee under section 234F (up to Rs 5,000 depending on income) and interest on the outstanding tax. Additionally, certain benefits, such as the facility to carry forward losses, are not available when filing belated returns.