Filing an income tax return (ITR) on time is a statutory obligation for individuals and businesses with taxable income. However, due to various reasons, taxpayers may miss the due date or may want to make corrections to a return already filed. In such types of cases, the Income Tax Act, 1961 provides mechanisms to either file a belated return or revise a previously filed return. To understand the difference between these two is crucial to avoid penalties and ensure compliance.
In this blog, we’ll explore:
- What is a Belated Return?
- What is a Revised Return?
- Key differences between these two.
- Filing process, deadlines and consequences.
- A comparative table for better understanding.
- FAQs.
What is a Belated Return?
A belated return basically refers to an income tax return filed after the due date as provided under Section 139(1) of the Income Tax Act.
Key Points:
- It can be filed any time before 31st December of the relevant assessment year or before completion of the assessment, whichever is earlier.
- Applicable when a taxpayer misses the original due date.
- Subject to late filing fees under Section 234F.
- It may also attract interest under Section 234A, 234B, and 234C.
- Some deductions and benefits may not be available…!
Example:
For the Financial Year (FY) 2024–25, the due date for individuals not subject to audit is 31st July 2025. If someone files the return on 10th October 2025, it is considered a belated return.
What is a Revised Return?
A revised return will be filed when the taxpayer has already filed the return but discovers any type error, omission, or wrong statement afterwards. It is filed under Section 139(5) of the Act.
Key Points:
- It can also be filed up to 31st December of the relevant assessment year or before completion of the assessment, whichever is earlier.
- Allowed only if the original or belated return was filed on or before the deadline.
- It replaces the original return completely.
- Multiple revisions are allowed within the time limit.
- No additional fees or penalties (unless there’s late filing).
Example:
If an individual files their ITR on 25th July 2025, but later realises they missed reporting interest income, they can file a revised return before 31st December 2025.
Belated Return Vs Revised Return: A Comparison Table
| Particulars | Belated Return | Revised Return |
| Definition | Return filed after the due date | Return filed to correct errors/omissions in the original |
| Relevant Section | Section 139(4) | Section 139(5) |
| Purpose | To file a return if the due date was missed | To correct a previously filed return |
| Precondition | Original return not filed within the due date | Original or belated return already filed |
| Deadline for Filing | 31st December of the Assessment Year (AY) | 31st December of the Assessment Year (AY) |
| Penalty | ₹1,000 to ₹5,000 under Section 234F | No penalty for revising, but late fees may apply |
| Interest Liability | Yes, under Sections 234A, 234B, 234C | Same as the original return, no additional interest |
| Carry Forward of Losses | Certain losses (like business loss, capital loss) cannot be carried forward | Allowed if the original return was on time |
| Multiple Revisions Allowed? | Not Applicable | Yes, till the due date or assessment |
| Assessment Impact | Treated as a valid return but with limitations | Replaces the original return entirely |
Some Important Deadlines
For FY 2024–25 (AY 2025–26):
- Original return due date: 31st July 2025 (for individuals and not under audit).
- Last date to file belated/revised return: 31st December 2025.
Note: If the department completes the assessment before the date of 31st December, a revised or belated return cannot be filed thereafter.
Legal Implications
- Filing a Belated Return:
- Liable to pay penalty under Section 234F:
-
- ₹5,000 if total income exceeds ₹5 lakh
-
- ₹1,000 if the total income is below ₹5 lakh
- Interest may apply on the tax due.
- Losses under certain heads like business income and capital gains cannot be carried forward if belated.
- Filing Revised Return:
- Replaces earlier return entirely.
- Helps avoid scrutiny if errors are rectified voluntarily.
- It cannot be filed after the assessment is completed.
When to File?
| Scenario | Appropriate Return |
| Missed filing ITR before due date | Belated Return |
| Filed ITR but forgot to include bank interest | Revised Return |
| Filed the wrong details in original return | Revised Return |
| Want to claim a missed deduction (e.g., Section 80C) | Revised Return |
| Want to carry forward capital loss, but missed the original date | Cannot be done with Belated Return |
Consequences of Not Filing
- You may receive notices from the Income Tax Department.
- May lose the benefit of carry-forward of losses.
- May lead to penalty and prosecution, especially if tax liability is significant.
- Revision not allowed if no return was originally filed.
Filing Process (Belated & Revised Returns)
Both belated and revised returns are filed in the same manner as the original return, through:
- https://www.incometax.gov.in/
- Use ITR forms applicable to your income.
- Choose the correct option:
- “Return filed under Section 139(4)” for Belated
- “Return filed under Section 139(5)” for Revised
- Submit verification using Aadhaar OTP, DSC, or EVC…!
Conclusion
Both belated and revised returns are tools that offer taxpayers flexibility and an opportunity to stay compliant with tax laws, even after initial errors or missed deadlines have occurred. However, each comes with its own set of rules, regulations, timelines and consequences. Filing a belated return can help avoid the total non-compliance, but it limits the ability to carry forward certain losses and may invite various penalties. On the other hand, revising your return can help correct mistakes and avoid scrutiny, provided it is done within the permissible time frame.
To avoid complications, taxpayers should aim to file their returns accurately and within the due date. But if errors or delays occur, it will always be a wise decision to take corrective action at the earliest.
FAQs
1. Can I revise a belated return?
Yes, a belated return can be revised under Section 139(5), provided it is done before 31st December of the assessment year or before the assessment is completed, whichever is earlier.
2. What happens if I don’t file even a belated return?
If you fail to file a return (even belated), the tax department can issue a notice, and you may be liable for penalties, interest, and even prosecution under certain cases.
3. Is there any difference in the ITR form for belated or revised returns?
No. The same ITR form is used. You just need to select the correct section (139(4) or 139(5)) during the filing process.
4. How many times can I revise my ITR?
You can revise your return multiple times as long as it’s within the allowed time frame and the assessment is not complete.
5. Will a revised return overwrite the original return?
Yes. The revised return replaces the original or belated return entirely for tax computation purposes.
