Found errors in your filed ITR? Check the due date and whether revising it attracts a penalty

If you have already filed your income tax return (ITR) before the stipulated deadline and later realised that some details were entered incorrectly or omitted, there is no reason to panic. Taxpayers are allowed to correct genuine mistakes by filing a revised return, and in many cases, doing so does not attract any penalty.

Some common errors often witnessed in filed returns include entering the wrong bank account number, not declaring some income or assets, claiming an incorrect deduction, or selecting the wrong ITR form.

When is the due date for filing revised return?

Taxpayers are allowed to file a revised return up to March 31 of the relevant assessment year. as per the extended timeline announced in Union Budget 2026.

This deadline applies to those who filed their ITRs on time, as well as belated returns filed within the December 31 due date. In case you miss your last date to file their revised return, then they will be able to file an updated return within 48 months from the relevant assessment year.

When does penalty apply for filing revised return?

Filing a revised income tax return to correct a genuine mistake generally does not attract a separate penalty. Taxpayers can revise an ITR if they discover omissions or incorrect information after filing the original return.

However, from AY 2026-27 onward, a new provision under Section 234I introduces an additional fee if a revised return is filed after December 31 but on or before March 31 of the relevant assessment year.

In other words, this means taxpayers who revise their returns on or before December 31 will not have to pay any fee.

“234I is the additional fees payable on filing the revised return after 31st Dec of the Assessment Year, applicable from AY 2026-27 onwards. For AY 2026-27, it is applicable from 1st Jan 2027,” the information available on the income tax department’s FAQ segment read.

Fee for furnishing revised ITR under Section 234-I:

Fee under section 234-I is payable only if a revised ITR is furnished beyond 9 months but before 12 months from the end of the relevant assessment year. Therefore, while revising an ITR remains an important option for correcting errors, taxpayers should avoid delaying the revision.

Key things to know about filing revised return

Here are some key things you must know before filing a revised return: