Question

What is a Belated Return under Section 263(4) of the Income Tax Act 2025? 

A A return filed to correct errors, omissions, or wrong statements made in a previously submitted return
B A return filed after the prescribed due date under Section 263(1), but within the extended time allowed by law
C A mandatory tax return filed only by corporate entities and partnership firms
D An updated return (ITR-U) filed within 48 months from the end of the succeeding financial year
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