New Delhi, Oct. 4 -- Missing the ITR deadline does not necessarily mean you can no longer file your return. For AY 2026-27, taxpayers who missed the applicable due date can file a belated return until 31 December 2026.

However, filing late can affect your ability to carry certain losses into future years. This is particularly important for taxpayers who have incurred losses from shares, mutual funds, property or other capital assets.

Under Section 139(4) of the Income-tax Act, 1961, a belated return for AY 2026-27 can be furnished by 31 December 2026 or before completion of assessment, whichever is earlier.

A late-filing fee under Section 234F can also apply. It is Rs.1,000 if total income does not exceed Rs.5 lakh and Rs.5,000 in othe...