Answer

1. F

   Facts

   From AY 2026-27, the due date for non-audit business and professional returns is 31 August. A belated ITR-4 can be filed up to 31 December 2026 with a late fee and interest.

2. P

   Provisions and law

   • Sec 139(1) (now Sec 263(1))Due date of return; 31 August for non-audit business or profession from AY 2026-27 (Finance Act 2026)
   • Sec 139(4) (now Sec 263(4))Belated return
   • Sec 234F (now Sec 428)Late fee ₹1,000 if income up to ₹5 lakh, else ₹5,000
   • Sec 234A (now Sec 423)Interest at 1% a month on unpaid tax
3. A

   Analysis

   File as soon as possible: the fee is ₹5,000 if total income exceeds ₹5 lakh, and interest at 1% a month runs on unpaid tax. On ₹50,000 unpaid tax, interest from September to November is about ₹1,500. A belated return cannot choose the old regime for business income. After 31 December 2026, only ITR-U is possible.

4. C

   Conclusion

   1. 1Compute tax, Sec 234A interest and the Sec 234F fee
   2. 2Pay through e-Pay Tax under self-assessment
   3. 3File ITR-4 as a belated return before 31 December 2026
   4. 4E-verify within 30 days

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