Answer

1. F

   Facts

   Returns for the current assessment year can be filed as belated returns till 31 December. Older years can usually be filed only as updated returns, within 48 months from the end of the assessment year, with additional tax. Filing quickly is the most important step in your defence.

2. P

   Provisions and law

   • Sec 139(4) (now Sec 263(4))A late (belated) return can be filed up to 31 December of the assessment year or before assessment, whichever is earlier
   • Sec 139(8A) (now Sec 263(6))An updated return (ITR-U) can be filed within 48 months from the end of the assessment year, with additional tax
   • Sec 140B (now Sec 267)Tax, interest and additional tax must be paid before an updated return is filed
   • Sec 276CC (now Sec 479)Prosecution for wilful failure to file a return on time; jail of 3 months to 2 years, or 6 months to 7 years where tax evaded exceeds ₹25 lakh
3. A

   Analysis

   For AY 2026-27, a belated return under Sec 139(4) is possible till 31 December 2026. For AY 2023-24 to 2025-26, an updated return under Sec 139(8A) (now Sec 263(6)) can be filed, paying tax, interest and additional tax of 25% to 70% depending on delay, unless a bar applies, such as a pending assessment or a prosecution already launched for that year. If a Sec 148 notice has been issued, file in response to it. Get a CA to check which route is open for each year.

4. C

   Conclusion

   1. 1List each unfiled year and its income.
   2. 2Check which filing route is open for each year.
   3. 3Pay tax, interest and any additional tax.
   4. 4File the returns and attach acknowledgements to your reply.

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