Belated ITR: The due date to file ITR has already lapsed on 16 September and more than 7 crore taxpayers have filed their income tax returns this year.
However, during the last leg of the ITR filing season, many taxpayers and CAs complained of the income tax portal being slow and having glitches, which made them unable to file taxes.
The ITR filing deadline was then extended to 16 September from 15 September, to facilitate taxpayers file their income tax returns.
If you have still missed the due date to file ITR, it does not mean you cannot do it anymore as you can still file a belated return.
ITR Filing Due Date: What is a belated return?
Any ITR filed after the due date is called a belated return.
According to the Income Tax Department, belated return of income is furnished under section 139(4).
“Any person who has not furnished a return of income within the time period allowed under section 139(1) or within the time period allowed under a notice issued under section 142(1), may furnish return for any previous year at any time 3 months before the end of the relevant assessment year or before completion of the assessment, whichever is earlier,” it said.
Belated ITR: Penalties
Belated return enables taxpayers to file ITR even after the due date. However, filing a belated return can attract fines and penalties under Section 234F of the Income Tax Act.
As per section 234F, late filing fees of ₹5,000 will be charged if the ITR is furnished after due date specified under section 139(1).
However the amount of late filing fees to be paid is ₹1,000, if the total income of the person does not exceed ₹5 lakhs.
How to file belated ITR after due date online?
Here is a step-by-step guide to file belated ITR after due date online:
Step 1: Go to the official income tax portal and login with your details
Step 2: Select e-File, then Income Tax Returns and click on File Income Tax Return
Step 3: Select the relevant assessment year and mode of filing as ‘online’
Step 4: Start a new filing and click on your applicable status like individual, HUF and more.
Step 5: Select the ITR form that is applicable to you
Step 6: Click on the ‘Personal Information’ section to verify your details
Step 7: Scroll down to the filing section and choose 139(4).
Step 8: Declare all your income details under relevant sections and proceed to pay taxes.