Have you missed the deadline for filing your tax return? A Belated Return is defined as an ITR that is filed for the first time after the due date, as per section 139(1). A late return for an assessment year may be submitted between August 1 and December 31 of the relevant assessment year.

For instance, the belated return for FY 2023-24 (AY 2024-25) may be submitted between August 1 and December 31, 2024.

This Document Covers

What is a Belated Income Tax Return ?
How to start filing a Belated IT Return by yourself?
Consequences of filing Belated Return
Common queries on Belated Income Tax Filing

1. What is a Belated Income Tax Return ?

Any person who has not furnished a return within the time allowed to him u/s 139(1) may furnish the return for any previous year at any time before the end of relevant assessment year. Starting from FY 2021-22, the last date for such filing is restricted to the end of the calendar year following the FY.

In a simple language .. belated IT return can be filed before the Dec 31st of the assessment year for the previous financial year. (for example belated return for FY 2021-22 should be filed on or before 31st Dec 2022*).

NOTE :

Belated Return can be filed only if the person has not filed Original return before 31st July.

2. How to start filing a Belated IT Return by yourself ?

To Start Register OR Login
After Login, Select the Self Service from Dashboard
Select Return Type as Belated Return
Select Tax Profile ... or the income and deductions you have
Enter the Income & Deduction details
Check Tax Saving Options from Tax Optimiser
Check any recommendations from Creative Audit
Click 'eFile' to eFile your Belated Return

Prepare Belated ITR Now

Services screen in EZTax Self Service Portal

ADDITIONAL INFORMATION :

If you are confused which Income Tax Return (ITR) types to be used while e-filing? Like belated vs revised vs updated? Learn from ITR Return types and related events

If you want to understand the different ITR forms, check ITR Forms and Selection Criteria

3. Consequences of filing Belated Return

Below are the consequences of filing belated return

Penalty u/s 234F: The taxpayer is required to pay a penalty of Rs 1000 if the total income is upto 5 lakhs and Rs 5000 if the total income is above Rs 5 lakhs for belated returns
No Carry Forward of Losses: The taxpayer cannot carry forward losses from different heads of income like Business, Capital gains, speculative, race horses etc if the return is filed after due date.
Interest u/s 234A: The taxpayer is required to pay interest u/s 234A if the return is filed after due date.
Opting of Old Tax Regime: The taxpayer cannot opt for Old tax regime if the return is filed after due date w.e.f FY 2023-24

3. Common queries on Belated Income Tax Return

1.When is the Income Tax Filing (ITR) Deadline?

Typically, it’s Jul 31st of every year but may vary based on Govt Decisions, Eg. for FY 2023-24 it is Jul 31st, 2024

2.What if you miss the deadline for filing income tax returns?

No Worry, you can file your FY 2023-24 income tax using belated return type for up to Dec 31st, 2024. Post which you may submit using "Updated" ITR.

If you need to file ITRs before the current assessment year, you need to chose "Updated ITR".

3.What are different Return Types to choose while filing Income Tax Return (ITR)?

Original: Income Tax Return to be filed for the first time on or before due date for the selected Assessment Year.
Belated: Income Tax Return to be filed for the first time after due date.
Revised: Income Tax Return to be filed in response to a notice or a defective original return. Revised return can be filed in case of a belated return, which is filed for the same Assessment Year.

4.Do you have to pay Penalty?

Yes. Unfortunately the penalty for filing Income Tax Return after the due date is applicable from AY 2018-19. The Government of India (GOI) on Feb 2017 introduced a maximum late fee of Rs. 10,000 for delayed ITR filing by individuals. Later it was changed to Rs. 5,000 from FY 2020-21 onwards.

5.What if there is an error in my ITR?

You can file a Revised Return for the Original before the end of the current assessment year i.e., before Dec 31st, 2024 (for FY 2023-24 taxes).

6.Can I revise my belated ITR?

Yes. You can revise a belated Income Tax Return for the last financial year with in the end of the current relevant assessment year (generally, Dec 31st).

7.What about Aadhaar PAN Linking?

Deadline for linking PAN, Aadhaar cards, a must for filing ITR, is Jun 30th 2023. Without it your ITR won't be accepted. There are few exceptions to this such as those who are senior Citizens (Age > 80 years) OR who are residing in the States of Assam, Jammu and Kashmir and Meghalaya OR a non-resident as per the Income-tax Act, 1961; OR not a citizen of India.

Now, you can still link your aadhaar and PAN with a govt. fee of Rs. 1000. until further notice or before Dec 31st 2023.

Refer Tax Compliance Calendar for latest dates