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 1st 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.

31st July

Note:

  1. “due date” means the date of the financial year succeeding the relevant tax year.
  2. 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 31st 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

31st August

4.

Any other assessee.

 

31st 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.

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