If you filed your ITR on time but forgot to claim your refund for some reason, you might think your money is gone. But that is not true! Let us understand where these mistakes usually happen. Sometimes, the TDS on your bank FD is sitting in your Form 26AS, or you accidentally pay too much Self-Assessment Tax.you might just forget to claim deductions like Section 80C or 80D. The return gets filed, and you completely miss claiming your refund.
The good news is that if your ITR was filed before the due date, you legally have 3 options. Each option comes with its own deadline.:
1. Revised Return under Section 139(5)This is the first and best option. It completely replaces your old filed tax return. You can add your missed deductions, claim your TDS, and your refund will get processed normally.
Important Update: After the Finance Act 2026, the final deadline to file a revised return for Assessment Year (AY) 2026-27 is 31.03.2027. However, if you file your revised return after 31st December 2026, you will have to pay a late fee of ₹5,000. If you do it before that date, you can revise it for free.
2. Rectification under Section 154 This second option is used when the Central Processing Centre (CPC) did not give you credit for your TDS, even though it clearly shows up in your Form 26AS. You can file this rectification online through the tax portal. You have the right to use this option for up to 4 years.
3. Condonation of Delay under Section 119(2)(b) This third option is for when you have missed all the standard deadlines, but you have a genuine refund due from an older assessment year. You can submit an application through the CBDT’s condonation route. According to Circular 11/2024, you can apply for this within 5 years. Please note that you will only get your actual refund amount, without any interest.
A Quick Warning Do not waste your time trying to use an Updated Return (ITR-U). The law does not allow you to claim a refund using ITR-U, so this option will not work for you.