Answer

1. F

   Facts

   Choose Sec 139(1) if filing by the due date. After the due date, choose Sec 139(4) for a belated return, up to 31 December 2026 for AY 2026-27.

2. P

   Provisions and law

   • Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)Return to be filed by the due date when income exceeds the exemption limit or a set condition applies.
   • Sec 139(4), Income-tax Act 1961 (now Sec 263(4), Income-tax Act 2025)Belated return after the due date.
   • Sec 234F, Income-tax Act 1961 (now Sec 428, Income-tax Act 2025)Late fee for belated returns.
3. A

   Analysis

   If you file in November 2026 for AY 2026-27, choose 139(4). A late fee of ₹1,000 or ₹5,000 applies. Interest at 1% a month on unpaid tax applies too. Some benefits like carrying forward certain losses are lost in a belated return.

4. C

   Conclusion

   1. 1Check today's date against the due date.
   2. 2Choose 139(1) or 139(4).
   3. 3Pay any late fee and tax.
   4. 4File and verify.

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