Income Tax

Amendment in due dates for filing ITR and time limit of revised return under Income Tax Act 2025

Amendment in due dates for filing return of income and time limit for filing revised return under Income Tax Act 2025

Due dates for filing return of income and time limit for filing revised return has been amended by Union Budget 2026-27 from 1^st April 2026 i.e. tax year 2026-27.

The Income Tax Act 2025 shall apply from April 1, 2026, i.e. Tax Year 2026-27 (i.e. FY 2026-27)

Due dates for filing return of income prescribed under section 263(1) of Income Tax Act 2025 [corresponding to Section 139(1) in IT Act 1961] for a Tax Year are as under:

Sl. No.	Person	Due date
A	B	C
1.	Assessee, including the partners of the firm or the spouse of such partner (if section 10 applies to such spouse), who is required to be furnished a report referred to in section 172.	30th November.
2.	Company (in cases other than those mentioned in Sl. No. 1).	31st October.
3.	Person (other than a company) whose accounts are required to be audited under this Act or under any other law in force (in cases other than those mentioned in Sl. No. 1).	31st October.
4.	Partner of a firm whose accounts are required to be audited under this Act or under any other law in force; or the spouse of such partner (if section 10 applies to such spouse) (in cases other than those mentioned in Sl. No.1).	31st October.
5.	Any other assessee.	31^st July

Note:

“due date” means the date of the financial year succeeding the relevant tax year.
Section 172 provides for Report from CA to be furnished by persons entering into international transaction or specified domestic transaction.

Time limit for filing a Revised Return of Income

Section 263(5) of Income Tax Act 2025 [ Corresponding to Section 139(5) of IT Act 1961] provides that a revised return may be furnished within nine months from the end of the relevant tax year, or before the completion of the assessment, whichever is earlier.

Amendment proposed by Union Budget 2026-27

(i) Due date prescribed for filing return of income by an assessee having income from business or profession but not subject to audit is now 31^st August.

The revised table for due dates for filing return of income by various assesses is now as under:

Sl. No.	Person	Conditions	Due date
A	B	C	D
1.	Assessee, including the partners of the firm or the spouse of such partner (if section 10 applies to such spouse), who is required to be furnished a report referred to in section 172.	Where the provisions of section 172 apply	30th November.
2.	(i) Company; (ii) Assessee (other than a company) whose accounts are required to be audited under this Act or under any other law in force; (iii) partner of a firm whose accounts are required to be audited under this Act or under any other law in force; or the spouse of such partner (if section 10 applies to such spouse).	Where the provisions of section 172 do not apply	31st October.
3.	(i) Assessee having income from profits and gains of business or profession whose accounts are not required to be audited under this Act or under any other law in force; (ii) partner of a firm whose accounts are not required to be audited under this Act or under any other law in force or the spouse of such partner (if section 10 applies to such spouse).	Where the provisions of section 172 do not apply	31^st August
4.	Any other assessee.		31^st July

The Union Budget 2026-27 has also amended section 263(5) related to time limit for filing a revised return of income. After amendment, a revised return may be filed on payment of late fee of Rs. 5000/- at any time within twelve months from the end of the relevant tax year, or before the completion of the assessment, whichever is earlier.

Object of assessment proceedings is not to find empirically correct solution on every fact issue – HC

It can never be the object of assessment proceedings to find an empirically, absolutely correct solution on every fact issue…

3 hours ago

Income Tax

Penalty u/s 270A deleted as assessee filed revised computation during scrutiny

Penalty u/s 270A deleted as assesse filed revised computation during scrutiny correcting the mistake which was noticed only after the…

22 hours ago

Income Tax

Penalty u/s 271B for unfilled column 40 in Tax Audit Report Form 3CD deleted by ITAT

Penalty u/s 271B for unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous…

3 days ago

Income Tax

Merely ex-parte rectifying computation without amending assessment order not make it nullity- ITAT

Merely rectifying computation without amending assessment order without notice to assessee does not nullify the entire assessment - ITAT In…

7 days ago

Income Tax

Once assessee discharges primary onus, it shifts to AO to bring evidence to contrary – ITAT

Once assessee discharges primary onus of providing basic documents in support of the identity, genuineness and the creditworthiness it shifts…

1 week ago

Income Tax

Cost Inflation Index for FY/Tax Year 2026-27 notified by CBDT. See Up-to-date Table of CII

CBDT has notified Cost Inflation Index for Financial Year / Tax Year 2026-27 CBDT has notified "384" as Cost Inflation…