By Admin 
ITR Filing Deadline: Today is the last day to file revised or belated returns for 2025-26. After this you will not be able to make any changes in the income tax return from your side. If you too have made a mistake in filing the income tax return for the amount earned in the financial year 2024-25, then today is the last chance to correct it.
In view of this, in the last few weeks, the Income Tax Department has been sending emails or messages to taxpayers asking them to review their filed returns or correct any mistakes. It is important to do this because the refund may be stuck until the mistakes are corrected.
After today’s deadline is over, the taxpayer will no longer have the option of voluntary revision i.e. making corrections as per his wish. This means that after today you will not be able to claim any deduction or exemption as per your wish. If the department finds any discrepancy in your filed return, now a direct notice will come.
What is revised return?
Many times we make mistakes while filing ITR. Sometimes wrong deductions are claimed and sometimes some income is left out. In such a situation, revised return is a good option to file return after missing the deadline. Revised income tax return allows taxpayers to correct mistakes or deficiencies made in the original return.
CA (Dr) Suresh Surana explains, “If any mistake or deficiency is found after submission, a taxpayer can revise his income tax return. This is allowed under section 139(5) of the Income-Tax Act, 1961.”
He further says that a revised return replaces the original return and becomes a valid return for that assessment year. There is no penalty for filing revised returns, provided it is submitted within the prescribed time limit. However, Surana also says that if the revision results in higher tax liability, the taxpayer will have to pay additional tax along with applicable interest.
The revised return should be filed on or before 31st December of the relevant assessment year, or before the completion of assessment, whichever is earlier. “For assessment year 2025-26, the last date to file revised returns is December 31, 2025,” says Surna. If this deadline is also passed, taxpayers can choose the route of ‘Condonation of Delay’ to claim the refund.
Will the deadline for revised returns be extended?
As the deadline of December 31 approaches, many taxpayers and professionals are appealing to the Income Tax Department to give them some more time to file the revised return. A user has written on
How to file revised return?
- First of all, go to the official website of Income Tax Department https://www.incometax.gov.in/iec/foportal/.
- Now login by entering PAN, password and captcha.
- After this, go to the e-File section and click on the option ‘Income Tax Return’.
- After selecting ‘File Income Tax Return’ select the relevant assessment year.
- Select the option of Revised return under section 139(5) in the Return Filing Section.
- Correct your mistake and fill the Acknowledgment Number and Date of filing of your original return.
- Submit revised return and e-verify.
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