29-Dec-2025 WHY ONE SHOULD FILE ORIGINAL/REVISED RETURN FOR AY 2025-2026 (FY 2024-2025) BY 31st DECEMBER, 2025
income-tax #itrdeadline #avoidpenalties #taxawareness31st December 2025 is the final deadline to stay within the normal income-tax compliance framework for AY 2025–26. Missing this date permanently eliminates the option to file or revise a return, leaving ITR-U as the only route, which is penal and costly, involving full tax, interest, and additional tax up to 70%, with no refunds or loss claims. Timely filing prevents avoidable costs, restrictions, and litigation risk.
ITR- U an expensive saviour for delay in ITR beyond 31st Dec:
A. Belated return to be filed by 31st Dec:
1. Where the return is not furnished within the due date prescribed under section 139(1), the Act permits a belated return under section 139(4), but only up to a fixed outer limit.
2. The belated return must be filed on or before 31 December of the relevant Assessment Year.
3. So after 31st December is crossed:
i) no return can be filed under section 139(1) or 139(4)
- ii) revision under section 139(5) becomes legally impossible
- iii) the assessee permanently exits the normal compliance framework.
- iv) This date remains unchanged even after the amendment to section 139(8A).
B. Revised Return:
1. A revised return is not a standalone right. It is available only if a return has already been filed under section 139(1) or 139(4).
2. The time limit for revision is co-terminous with the belated return deadline, i.e. 31st December of the Assessment Year.
- i) If no return exists by that date, the right to revise never comes into existence.
C. Updated Returns: The saving grace
1. The amendment to Updated Returns I.e. section 139(8A) has materially altered the compliance landscape. The law now permits filing of an updated return up to 48 months from the end of the relevant Assessment Year.
2. This is not an extension of the original return-filing regime. It is a separate, penal disclosure window, introduced to enable taxation of income that has escaped assessment after all regular remedies have lapsed.
D. Payment of additional tax in case of updated returns:
1. Before furnishing ITR-U, the assessee must mandatorily pay:
i) tax on the updated income, and
ii) interest under sections 234A, 234B and 234C, wherever applicable.
2. In addition, the statute now levies graduated additional tax on the aggregate of such tax and interest:
i) Filing within 12 months from the end of the Assessment Year attracts 25% additional tax,
ii) Filing after 12 months but within 24 months attracts 50% additional tax,
iii) Filing after 24 months but within 36 months attracts 60% additional tax,
iv) Filing after 36 months but within 48 months attracts 70% additional tax.
E. Limitation on filing of updated returns:
1. An updated return cannot be filed if it:
i) results in a refund
ii) reduces total tax liability
iii) converts income into loss
iv) reduces or enhances a declared loss
2. Further, ITR-U is barred once:
i) assessment, reassessment, search or survey proceedings are initiated,
ii) information under international exchange is received and communicated,
iii) prosecution proceedings have commenced.
Please connect to info@apmh.in for any assistance or clarity.