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CMA Final · Direct Tax Laws and International Taxation · Return of Income

Kavita did not file her return for tax year 2026-27 by the due date. Under section 263(4) and (5), which statement about a belated return and a later revision is correct?

A belated return may be furnished within nine months from the end of the tax year, and a revised return within twelve months from the end of the tax year, in each case or before completion of assessment, whichever is earlier. The revision period was extended from nine months from 1 April 2026.

  1. AA belated return can be filed within nine months from the end of the tax year, and a revised return within twelve months from its endCorrect
  2. BA belated return can be filed within twelve months from the end of the tax year, and a revised return within nine months
  3. CBoth belated and revised returns can be filed within nine months from the end of the tax year
  4. DBoth can be filed only within the due date plus three months

Explanation

Sub-section (4) permits a belated return within nine months from the end of the tax year, or before completion of assessment if earlier. Sub-section (5), as substituted from 1 April 2026, permits a revised return within twelve months from the end of the tax year, or before completion of assessment if earlier. The nine-month period for revision is the earlier rule and is no longer correct.

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