Revised ITR Deadlines Explained: Belated vs Revised Return Rules for FY 2024–25

The Income Tax Return (ITR) filing deadline for Financial Year 2024-25 (Assessment Year 2025-26) has been extended, providing taxpayers, businesses, and professionals with additional time to file their returns. This extended period offers relief, but it also comes with new considerations for those who may have missed the original deadline or need to make amendments to their returns. Understanding the nuances of belated and revised returns is crucial for staying compliant with tax regulations and avoiding unnecessary penalties. In this article, we will discuss the key differences between belated and revised returns, explain how to file both types, and highlight common mistakes to avoid during the filing process to ensure an efficient and accurate tax filing experience.

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Table of Contents

• ITR Filing Deadline for FY 2024–25 (AY 2025–26)

• Belated vs Revised Returns: What’s the Difference?

• How to File a Belated Return

• How to File a Revised Return

• Common Mistakes to Avoid When Filing ITR

• Conclusion

• FAQs

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ITR Filing Deadline for FY 2024–25 (AY 2025–26)

The ITR filing deadline for the Financial Year 2024-25 (Assessment Year 2025-26) has been officially extended by the Central Board of Direct Taxes (CBDT). While the original deadline for individuals and non-audit assessees was July 31, 2025, the new deadline is set for September 15, 2025. This extension provides additional time for taxpayers to file their returns accurately, especially considering the revisions made to ITR forms and the need to properly reflect TDS (Tax Deducted at Source) credits in the system.

For businesses requiring audits, the deadline is extended to October 31, 2025. Businesses involved in international or domestic transfer pricing must file by November 30, 2025. If taxpayers miss these deadlines, they can still file belated returns until December 31, 2025, but penalties will apply. The extended deadlines offer taxpayers more flexibility but filing on time remains the best option to avoid penalties and ensure smooth processing of refunds.

Belated vs Revised Returns: What’s the Difference?

While the extension provides more time to file, some taxpayers may still miss the deadline and need to file a belated return. It’s essential to understand the difference between belated returns and revised returns, as these two types of returns serve different purposes and have different filing conditions.

• Belated Return: A belated return is filed after the due date but within the stipulated period for filing belated returns, which is typically the end of the assessment year. In this case, taxpayers can still file their ITR, but they will face penalties and interest on any unpaid taxes. Belated returns are also processed after on-time filings, meaning refund processing will be delayed.

• Revised Return: A revised return is filed when a taxpayer needs to correct an error or omission in the original return. This could involve discrepancies in income reporting, claiming missed deductions, or TDS credits. A revised return can be filed within the assessment year or before the completion of the assessment, ensuring that the return reflects accurate information. Unlike a belated return, no penalties are imposed for filing a revised return, as long as it is filed before the end of the assessment year.

How to File a Belated Return

Filing a belated return can be done through the Income Tax Department's e-filing portal or a third-party platform like TaxBuddy. Here’s how to file a belated return:

Log in to the e-filing portal: The first step in filing your Income Tax Return (ITR) is logging into the official Income Tax e-filing portal. To do so, visitincometax.gov.in, where you will be prompted to enter your PAN (Permanent Account Number) and password. If you haven’t registered yet, you’ll need to create an account on the portal by providing your PAN, email address, and phone number for verification. Once logged in, you can access your ITR forms and relevant details. For a more user-friendly filing experience, you can also use platforms like TaxBuddy, which simplifies the entire process with clear instructions and personalized support, especially for complex filings.

Select the appropriate ITR form: Next, choose the appropriate ITR form based on the nature of your income and tax obligations. For example:

• ITR-1 (Sahaj): This form is for salaried individuals and pensioners who have income from salary, pension, and interest. It’s the simplest form to fill out.

• ITR-4 (Sugam): This form is used by business owners, professionals, or those who have opted for the presumptive taxation scheme under Section 44AD/44ADA.

• ITR-2: This form is for individuals who earn income from sources other than salary, like capital gains, house property, or foreign income.

Ensure that you select the right form because choosing the wrong one can lead to errors in processing and possible rejections of your return.

Fill in the details: Once you've selected the correct form, you'll need to enter the relevant details. Start by providing your personal information, including your name, address, contact details, and the assessment year (2024-25). The form will also ask for details regarding your income, deductions, and taxes paid. For example:

• Income: Enter details of your salary, business profits, capital gains, or any other sources of income.

• Deductions: Fill in the deductions under sections like 80C (for investments in PPF, EPF, etc.), 80D (for insurance premiums), and other applicable sections.

• Taxes paid: This includes Advance Tax, TDS (Tax Deducted at Source), and Self-Assessment Tax paid during the year.

Make sure to double-check all the information before proceeding to avoid errors. If you’re using TaxBuddy, the platform will automatically fetch some of these details, reducing the chances of mistakes and making the process faster.

Check for TDS and other credits: TDS is an important element of your ITR filing, especially for salaried individuals. Ensure that all TDS credits (reflecting the taxes deducted by your employer, bank, or other entities) are correctly entered. TDS information is typically mentioned in Form 16 (for salaried individuals) or Form 26AS (for others). If these details are not accurately reflected in your return, the Income Tax Department may raise objections, or your refund may be delayed. Additionally, verify other applicable credits such as rebates under Section 87A or any tax reliefs that you may be eligible for.

TaxBuddy and other similar platforms offer features that help you automatically retrieve and verify TDS information from the Form 26AS, ensuring that no credit is missed and your filing is accurate.

File the return: After filling in all the required details, you can proceed to file your ITR. Before submission, the system will prompt you to review the details. If everything looks correct, click the "File" button. You may need to pay any outstanding tax if your calculated tax liability exceeds the taxes already paid (via TDS, advance tax, or self-assessment tax). If you're filing after the due date, you may also be liable for penalties and interest. Once the payment (if any) is made, the return will be successfully filed.

If you're using platforms like TaxBuddy, you can track your filing status and make sure everything is completed properly without the need for multiple steps. TaxBuddy also provides a step-by-step guide for filing, making sure you don’t miss any critical components.

E-Verification: Once your return is filed, the next step is e-verification. The e-verification confirms that the filing is genuine and has been submitted by you. The Income Tax Department offers several methods for e-verification, including:

• Aadhaar OTP: If your Aadhaar number is linked to your PAN, you can use an OTP (One Time Password) sent to your registered mobile number for e-verification.

• Net Banking: You can also use net banking to authenticate your return if your bank supports this feature.

• Electronic Verification Code (EVC): If you don’t have access to Aadhaar or net banking, you can use the EVC method, where a code will be sent to your registered mobile number or email address.

E-verification is a crucial step as it officially submits your ITR and completes the filing process. Without this step, your return will not be considered valid, and your refund (if any) will not be processed.

By completing these steps carefully, you ensure that your ITR is filed correctly, and the process is streamlined, allowing for quicker refunds and a smoother tax compliance experience.

How to File a Revised Return

Filing a revised Income Tax Return (ITR) is a process that allows taxpayers to make corrections or update their tax returns if they realize there were mistakes or omissions in the original filing. A revised return can be filed under Section 139(5) of the Income Tax Act, and it provides taxpayers the opportunity to rectify errors like incorrect income reporting, missed deductions, or wrong TDS (Tax Deducted at Source) details. Here's a step-by-step guide to filing a revised ITR:

Step 1: Log in to the e-filing portal The first step in filing a revised return is to log into the Income Tax Department’s e-filing portal atincometax.gov.in or use a third-party platform like TaxBuddy. To log in, you’ll need your PAN (Permanent Account Number) and password. Once logged in, navigate to the "e-File" section, where you'll find the option to file a revised return. This will open the necessary forms for filing the return.

Step 2: Select the ‘Revised Return’ option Once you're in the e-filing section, you need to choose the "Revised Return" option. This option is distinct from the standard return filing process. When prompted, you will need to select the relevant ITR form you originally filed, such as ITR-1, ITR-2, etc. This ensures that the revised return is filed based on the correct form and will overwrite the original one.

Step 3: Provide the acknowledgment number Next, you'll be asked to enter the acknowledgment number from your original return. This number is generated when you first file your return, and it acts as a unique reference for your original filing. By entering this acknowledgment number, the system links the revised return with the original one, ensuring proper tracking and association of both filings in the tax department’s records.

Step 4: Make corrections Once the original return is linked, you can begin making corrections. Depending on what needs to be amended, this could include updating details like:

• Income details: Correct any errors related to income that were reported incorrectly in the original return.

• Deductions: If you missed claiming deductions or incorrectly reported them, you can update this information in the revised return.

• TDS credits: If there were discrepancies in the TDS credits reported, or if you missed including any TDS certificates, this step allows you to correct it.

• Other errors: Any other mistake in the original return, such as incorrect bank details, can be updated in the revised return.

Make sure that all the corrections are accurate. Incorrect amendments can delay the processing of the revised return and may lead to further complications.

Step 5: File the revised return After making the necessary corrections, you can proceed to file the revised return. Before filing, it’s important to review all the updated details carefully. Ensure that any outstanding taxes are paid. If your revised return results in additional taxes owed, make sure to settle the dues before submission. You can make the payment through the available modes on the e-filing portal, such as net banking or challan.

Step 6: E-Verification Just like the original ITR, the revised return must be e-verified for it to be processed. E-verification is a crucial step that confirms the authenticity of your return. Without e-verification, the tax authorities will not process your return, and it will be considered invalid. You can e-verify your revised return using one of the following methods:

• Aadhaar OTP: If your Aadhaar is linked with your PAN, you can verify your return using an OTP sent to your registered mobile number.

• Net banking: You can log in to your bank account and e-verify your return.

• Digital Signature Certificate (DSC): For professionals or businesses filing on behalf of others, a DSC can be used for e-verification.

• Bank account-based verification: You can also e-verify your return through the bank account linked with your PAN.

After e-verifying your revised return, it will be considered submitted, and the Income Tax Department will begin processing it.

Why is it Important to File a Revised Return? Filing a revised return is crucial because it helps avoid penalties and fines. If you have missed claiming deductions or reported incorrect income, your original return could be deemed incorrect by the tax authorities. Filing a revised return ensures that your tax records are accurate, and any discrepancies are corrected before they escalate into larger issues, such as audits or notices from the tax department.

In addition to compliance, filing a revised return can also help you claim any refunds you missed in the original filing. If you overpaid taxes due to errors in the initial return, a revised return can help you claim the excess amount back.

Common Mistakes to Avoid When Filing ITR

Filing your ITR accurately is crucial to avoid delays and penalties. Here are some common mistakes taxpayers make during the filing process and tips to avoid them:

• Incorrectly Reporting Income: Ensure that all sources of income, including salary, business income, and other sources, are accurately reported. Cross-check with Form 16 and other documents to avoid discrepancies.
  

• Missing Deductions: Many taxpayers overlook deductions such as those under Section 80C, 80D, or other sections. Review eligible deductions to reduce your taxable income and minimize tax liability.
  

• Incorrect TDS Credits: Ensure that the TDS (Tax Deducted at Source) reflected in your Form 26AS is correctly entered into your ITR form. Any mismatch can delay your refund and may require manual intervention.
  

• Filing Under the Wrong Regime: Be sure to select the correct tax regime (old or new) that benefits you the most. Filing under the wrong regime can result in higher taxes.
  

• Not Verifying Details Before Submission: Always double-check the details before filing, including your PAN, bank account information, and tax calculations. Mistakes in these areas can delay processing.
  

• Missing the E-verification Step: Many taxpayers forget to e-verify their return, which can lead to delays. Make sure to complete the verification through Aadhaar OTP, net banking, or other methods.

Conclusion

Understanding the difference between belated and revised returns is crucial for taxpayers who miss the ITR filing deadline or need to make corrections to their filed returns. Filing a belated return is an option for those who miss the deadline but may incur penalties, while a revised return allows for corrections to be made without penalties. The key is to file your return as accurately as possible, avoiding common mistakes to ensure smooth processing. If you miss the deadline, it's important to take the right steps to avoid unnecessary delays and complications.

Frequently Asked Question (FAQs)

Q1: What is the deadline for filing a belated return?

The deadline for filing a belated return is December 31, 2025, for FY 2024-25 (Assessment Year 2025-26). Filing a belated return after the extended deadline incurs penalties. The sooner you file, the better, to avoid further penalties and interest.

Q2: Can I file a revised return after the belated return deadline?

Yes, you can file a revised return anytime before the completion of the assessment year, even after the belated return deadline. The revised return allows you to correct any errors or omissions in the original filing.

Q3: Is there a penalty for filing a belated return?

Yes, penalties are applied for filing a belated return. The penalty amount can range from ₹1,000 to ₹5,000, depending on how late you file. If you delay beyond the due date, interest and additional penalties may also be imposed.

Q4: Can I claim missed deductions in a revised return?

Yes, you can claim missed deductions when filing a revised return. This can help reduce your taxable income and possibly increase your refund. Ensure you report all eligible deductions in your revised return.

Q5: How do I avoid errors when filing my ITR?

To avoid errors, carefully double-check all the information you include in your return, such as income details, TDS credits, and any deductions you wish to claim. Using platforms like TaxBuddy can help automate the process, reducing the chances of mistakes and ensuring your filing is accurate.

Q6: Do I need to pay penalties for a revised return?

No, there are no penalties for filing a revised return, as long as it is done before the completion of the assessment year. A revised return is designed to allow corrections, so you can ensure your ITR is accurate.

Q7: How can I verify my ITR?

To complete the ITR filing process, you must verify your return. This can be done through Aadhaar OTP, net banking, or by submitting a physical ITR-V to the Income Tax Department. E-verification is a quick and easy method for verifying your return.

Q8: Can I file a revised return for any mistake?

Yes, you can file a revised return to correct mistakes in your original filing. This could be anything from incorrect income reporting to missing deductions. A revised return ensures that you file an accurate return and prevent penalties or errors.

Q9: Will my refund be delayed if I file a belated return?

Yes, refunds for belated returns are processed after those filed on time. The Income Tax Department processes returns on a first-come, first-served basis, so filing later means a delay in receiving your refund.

Q10: How can I avoid missing the ITR deadline next year?

To avoid missing the deadline, plan ahead. Start gathering your documents early, and keep track of tax notices and important deadlines. You can set calendar reminders for crucial filing dates. Using platforms like TaxBuddy can also help you stay on track and avoid last-minute filing.

Q11: What happens if I file my ITR late?

If you file your ITR late, you can still submit a belated return, but penalties will apply, and the refund processing will be delayed. Filing after the deadline also means you may face interest on any unpaid taxes.

Q12: Can I file a revised return if I missed a deduction after the initial filing?

Yes, if you realize that you missed a deduction after filing your ITR, you can file a revised return. This will allow you to claim the deduction and possibly reduce your overall tax liability, leading to a larger refund.