Answer

ITR

Audit case: still in time for AY 2026-27

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  1. Facts

    No, not yet. CBDT extended the AY 2026-27 dates for audit cases: the tax audit report to 21 October 2026 and the return to 21 November 2026. A belated return can still be filed up to 31 December 2026.

  2. Provisions and law

    • Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)Return due date: 31 July for most individuals, 31 August for non-audit business or profession, 31 October for audit cases
    • Sec 139(4), Income-tax Act 1961 (now Sec 263(4), Income-tax Act 2025)Belated return can be filed after the due date, by 31 December of the assessment year or before assessment, whichever is earlier
    • Sec 80, Income-tax Act 1961 (now Sec 121, Income-tax Act 2025)Losses can be carried forward only if the loss return was filed by the due date

  3. Analysis

    Filing by 21 November 2026 keeps your losses and regime options. Example: a trader with turnover of ₹1.4 crore and cash sales above 5% needs an audit; filing by 21 November allows carry forward of a ₹2 lakh business loss. If the audit report was not uploaded by 21 October, file it now and take advice on penalty exposure.

  4. Conclusion

    1. Confirm the audit report is uploaded
    2. Finalise the return with audit figures
    3. Pay any balance tax
    4. File by 21 November 2026
    5. E-verify the same day

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Belated and revised return, Sec 263(4) and 263(5) (old 139(4) and 139(5))

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