The Union Budget 2026 has taken a more flexible approach to income-tax compliance by revising key filing timelines. In this thread, we’ve covered the ITR due date extension and what it means for taxpayers.
1. Revised returns
A revised return allows you to correct any errors or omissions in the original ITR. The deadline, which was earlier December 31st, has now been changed to March 31st, effective from this financial year 2025-26.
While you get three extra months to revise your return, a nominal fee under Section 234I will apply:
- ₹1,000 if your total income is below ₹5 lakh.
- ₹5,000 if your total income exceeds ₹5 lakh
Aligning the revised return deadline with the end of the financial year will give taxpayers more practical time to reconcile income, TDS credits, and tax computations. This is particularly helpful for those dealing with delayed Form 16, updated TDS details, or cross-border income disclosures.
2. ITR-3 (non-audit cases) & ITR-4
For individuals and HUFs earning business or professional income, the original July 31st due date has been changed to August 31st. This applies to small business owners opting for the presumptive scheme under ITR-4, as well as professionals and partners in firms filing ITR-3, where no audit is required.
The extended timeline is intended to ease last-minute filing pressure and give smaller taxpayers more time to prepare and file accurate returns. That said, filing early remains advisable to reduce any interest under Section 234A and to speed up refund processing.
If you’re unsure whether a tax audit applies to you, you can refer to this detailed thread. Also, our Tax Audit Applicability Calculator makes it easy to find out.