Answer

1. F

   Facts

   Yes. For AY 2026-27 you can file a belated return under Sec 139(4) (now Sec 263(4)) up to 31 December 2026, or before the assessment is completed, whichever is earlier. A late fee and interest on any unpaid tax apply.

2. P

   Provisions and law

   • 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 234F, Income-tax Act 1961 (now Sec 428, Income-tax Act 2025)Late filing fee ₹1,000 if total income is up to ₹5 lakh, else ₹5,000
   • Sec 234A, Income-tax Act 1961 (now Sec 423, Income-tax Act 2025)Interest at 1% a month on unpaid tax from the day after the due date until filing
3. A

   Analysis

   The return is filed exactly like an on-time one, but you select 139(4) as the filing section. Example: a salaried person with ₹9 lakh income and ₹4,000 tax still unpaid files on 20 November 2026; fee ₹5,000 under Sec 234F (now Sec 428) and interest about 1% a month on ₹4,000 for August to November. File soon, because the window closes on 31 December 2026.

4. C

   Conclusion

   1. 1Collect Form 16 (now Form 130), AIS and Form 26AS (now Form 168)
   2. 2Compute tax, Sec 234A interest and the late fee
   3. 3Pay through e-Pay Tax before filing
   4. 4File choosing section 139(4)
   5. 5E-verify within 30 days

After 31 December 2026, only an updated return with additional tax is possible for AY 2026-27.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.