A new Revised Income Tax Return (ITR) filing can be confusing sometimes especially due to a number of new tax regime changes. It is critical to know the deadlines and rules of the tax return in order to avoid penalties if one is intending to file a revised return for FY 2025-26.
Important Dates
- Financial Year (FY): 2025-26
- Assessment Year (AY): 2026-27
- Last day for filing revised return: 31 December 2026 (pursuant to Section 139(5))
Why the Deadline is 31 December 2026
A revised return may be made for up to three months prior to the conclusion of the appropriate assessment year. AY 2026-27, which corresponds to FY 2025-26, ends on 31 March 2027 (assessment year of examination). Accordingly, the final submission date to complete a revised return is 31 December 2026.
Be mindful, the widely cited deadline of 31 March doesn't relate to FY 2025–26. This extension under the new Tax Year regime covers from Tax Year 2026-27 and is part of the new Tax Year law. That amendment is forward-looking and not retroactive.
Comparison of Revised Return Deadlines
|
Period |
Revised Return Allowed Up To |
|
FY 2024-25 (AY 2025-26) |
31 Dec 2025 |
|
FY 2025-26 (AY 2026-27) |
31 Dec 2026 |
|
Tax Year 2026-27 onwards |
31 Mar 2028 |
This comparison demonstrates that the revised return deadline for FY 2025-26 is still 31 December 2026. The extension of March 31 from the new system of Tax Year only goes forth from Tax Year 2026-27.
Key Takeaway
For FY 2025-26, report updated ITRs are due no later than 31 December 2026. Avoiding above that cutoff may lead to penalties or to the absence of an opportunity for your ITR to be amended or improved. Accurate understanding of these timelines guarantees compliance, and prevents the needlessly confusing steps.
However, if this is all for FY 2025-26 then FY 2025-26 continues as is. And so long as you make sure to comply by submitting your return this time round, it will not be possible for you to make any last minute mistakes, save you some money on late submission.
