If you missed the deadline to file your income tax return (ITR), you must now file a belated return.
This can be done up to December 31st to avoid extra penalties or notices. The original deadline was July 31st, later extended to September 16th.
What is a Belated Return?
An ITR filed after the due date mentioned in Section 139(1) is called a belated return.
Usually, the deadline is July 31st, but for this assessment year, it was extended to September 16th. Returns filed between September 17th and December 31st fall under belated returns.
Penalties and Late Fees
If your annual income is over ₹5 lakh, the penalty is ₹5,000.
If your income is less than ₹5 lakh, the penalty is ₹1,000.
Additionally, you must pay 1% interest every month on any outstanding tax.
According to the Income Tax Department under Section 234F, these late fees apply for returns filed after the due date.
Limitations of Belated Returns
You can claim a refund with a belated return but cannot change your tax regime.
Some deductions and exemptions (like sections 10A, 10B, 80-IA, 80-IB, 80-IC, 80-ID, and 80-IE) are not available if you file late.
Business and capital gains losses cannot be carried forward with a belated return, but house property losses can.
Not paying due tax can lead to imprisonment from 3 months to 2 years, or 6 months to 7 years if the unpaid tax exceeds ₹25 lakh (usually doesn’t affect salaried individuals).
How to File a Belated Return
Log in to the Income Tax e-filing portal.
Go to e-File and select Income Tax Returns.
Click File Income Tax Return.
Choose your filing mode.
Click Start New Filing.
Select your status (Individual/HUF/Others).
Select the applicable ITR form.
Verify your personal details.
In the Filing section, choose 139(4) (Belated Return filed after due date).
Fill in income, deductions, and submit the return.
Can You Get a Refund on a Belated Return?
Yes, you can claim a refund, but your bank account must be pre-validated, and your ITR must be e-verified.
Can a Belated Return Be Revised?
Yes, you can revise a belated return. The deadline for filing a revised return is December 31st of the same assessment year.
The Income Tax Department states that a return can be revised up to three months before the assessment year ends or before the assessment is completed—whichever is earlier.
