Budget 2026: Revised ITR deadline extended to 12 months, but now it comes with a fee of up to Rs 5000

If the ITR form needs to be modified, a revised return can be submitted

• Deadline to revise income tax returns extended to March 31 with a nominal fee
• Taxpayers now have 12 months to file revised returns instead of 9 months
• Revised return replaces original, can be filed before assessment completion

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Finance Minister Nirmala Sitharaman has proposed extending the deadline for revising income tax returns, giving taxpayers more time to correct errors. While presenting the Union Budget, she said the revision window will now remain open until March 31 instead of December 31, subject to payment of a nominal fee, offering relief to those who miss earlier deadlines.

"I propose to extend the time available for revising returns from 31st December to up to 31st March with the payment of a nominal fee," she said in her Budget speech.

According to the Finance Bill, 2026, "Without prejudice to the provisions of this Act, where any person furnishes a return of income under sub-section (5) of section 139, beyond nine months but before twelve months from the end of the relevant assessment year, he shall pay by way of a fee,–(a) a sum of one thousand rupees, if the total income of such person does not exceed five lakh rupees; (b) a sum of five thousand rupees, in any other case."

This means that if a taxpayer files a revised income tax return after nine months but before twelve months from the end of the relevant assessment year, they must pay a late fee. If their total income is up to Rs 5 lakh, the fee is Rs 1,000. If their total income exceeds ₹5 lakh, the fee is ₹5,000.

When a taxpayer finds any omission or incorrect statement in the original Income Tax Return (ITR) filed, it can be corrected by submitting a revised return through the eFiling portal. A Revised Return can be filed at any point before the end of the relevant Assessment Year (AY) or before the assessment is completed, whichever comes first.

"Taxpayers also get more flexibility to correct mistakes: the time limit to file a revised return has been increased from 9 months to 12 months from the end of the tax year, so even those who file a belated return late will still get a chance to revise it (though a small fee may apply after 9 months)," said Avnish Arora, Executive Director, Direct Tax, Forvis Mazars in India.

What you must know when filing a revised return.

The income tax return revision is submitted in accordance with section 139(5) of the Income Tax Act.

Poorva Prakash, Partner, Deloitte India says, salaried taxpayers should know the following

Tax year 2025-26

ITR return filing date: July 31 2026

Revised Return Filing date: December 31 2026 (no charges), by March 31, 2027, with a penalty of Rs 5000 (Income exceeding Rs 5 lakh)

Belated Return filing date: December 31 2026 with a penalty of Rs 5000 (Income exceeding Rs 5 lakh), said Prakash.

When you file a revised income tax return, it fully replaces the original. After submission, the revised return is regarded as your final income tax return. If your return has been processed and you have received a refund, you can still submit a revised return before the deadline.

If the ITR form needs to be modified, a revised return can be submitted. However, once the assessing officer completes the assessment under Section 143(3) of the Income-tax Act, filing another revised return is not permitted.

Until December 31, the income tax department will not impose any penalty or charge for submitting a revised income tax return. If there are errors in the original filing, a revised return will help you to correct them without concern.