Find
Yes. For AY 2026-27 a revised return can be filed up to 31 March 2027, before assessment is completed. Revisions after 31 December 2026 carry a fee of ₹1,000 or ₹5,000 under the new Sec 234-I.
ITR
Revising an ITR-1 already filed
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Provisions
Sec 139(5), Income-tax Act 1961 (now Sec 263(5)); Sec 234-I, Income-tax Act 1961
Analysis
If you missed ₹22,000 of FD interest, revise now and pay any extra tax. Revising before 31 December 2026 avoids the fee. A revised return replaces the original fully, so include everything. Returns filed in response to a notice cannot be revised.
Close
- Compute the corrected income and tax.
- Pay any extra tax first.
- File ITR-1 choosing revised return u/s 139(5) with the original acknowledgement number.
- E-verify within 30 days.
- Do it before 31 December 2026 to avoid the fee.
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