Updated on: Aug 7th, 2023
12 min read
The due date to file the income tax return for the financial year 2022-23 ended on 31st July 2023. If you miss filing your ITR within the original deadline, then you can file a late return, known as Belated Return. Belated return is a return filed after the initial deadline (31st July) but before the extended deadline (31st December).
According to the Finance Act 2021 amendment, you can file your belated IT return anytime on or before three months before the end of the relevant Assessment Year (AY). For Example, for the AY 2023-24, the timeline to file a belated return is on or before 31 December 2023 (if income tax authorities do not complete the assessment on their own).
The amendment vide Finance Act 2021 reduced the timeline of filing the belated return. With effect from AY 2021-22, you can file the belated return three months before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
The following are the disadvantages of filing a belated return:
|Gross total income||Late fee|
|up to Rs 2.5 lakh||No Penalty|
|Rs 2.5 lakh – Rs 5 lakh||Rs 1,000|
|more than Rs 5 lakh||Rs 5,000|
If you wish to file it on Income Tax Portal, take a look at this step-by-step guide on how to file a belated return online and offline.
Step 1: Log in to your account on the e-filing account
Step 2: > Click on ‘e-File‘
> Choose ‘Income Tax Returns‘ and
> Select ‘File Income Tax Return‘
Step 3: Select the relevant assessment year
Step 4: If you select the mode of filing as ‘Online’, follow Steps 5-10. If you select the ‘Offline’ mode of filing, skip to Step 11.
Step 5: Click on the ‘Start new filing' button
Step 6: Select the applicable status
Step 7: Now, select the applicable ITR form
Step 8: Click on the ‘Personal Information’ section and ensure all your personal details are correct.
Step 9: Scroll down to the filing section and select 139(4).
Step 10: Fill in all your income details under various source heads and proceed to make the tax payment.
If you missed filing a return within the original deadline, you can file a belated return within 31st December of the relevant assessment year. If you miss this deadline too because of genuine reasons then you may file a condonation of delay request and ask the income tax authorities to condone the delay.
If you have received a notice from the Income Tax Department asking you to file your returns that go beyond 2 financial years, you can log on to www.cleartax.in to prepare your returns. You can then print this return and submit it to the income tax office in your ward.
Usually, a taxpayer files an old return in response to an income tax notice.
Yes, you can file your ITR after the due date. But such an ITR will be considered as a belated return, and a late filing fee will be levied along with interest.
A belated return is filed under section 139(4).
Yes, a belated return can be revised. However, the last date to file a revised return or a belated return is 31st December of the relevant assessment year. Therefore, the revision must be done before 31st December 2023.
Yes. To complete the return filing process, it is mandatory to e-verify the income tax return. Therefore, you must e-verify the belated return filed u/s 139(4).
Yes, you can claim a tax refund while filing a belated return u/s 139(4).
You must pre-validate your bank account to receive the refund, as the refund will be directly credited to your bank account added on the e-filing portal.
The due date to file an income tax return by individuals (Non-audit cases) is 31st July. You can file a belated return by 31st December. However, interest and late fees of up to Rs 5,000 will be levied.
Belated return can be filed 3 months before the end of the relevant assessment year or completion of the assessment, whichever is earlier. For example, for the AY 2023-24 (corresponding to FY 2022-23), a belated return can be filed until 31 December 2023.
Yes, a late fee of Rs 5,000 will be levied under Section 234F while filing a belated return. If the total income is less than Rs 5 lakh, the late filing fee shall be reduced to Rs 1,000. However, if your income is less than the taxable limit, no late fee shall be levied u/s 234F.
You can re-submit your e-filed return as many times as necessary until the filing deadline. However, we recommend that you print, sign, and mail your return after three unsuccessful attempts (with the same e-file error). Some e-file issues cannot be resolved except by the IRS.
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