Filing a Belated Income Tax Return: A Step-by-Step Guide and Understanding the Penalties.

Filing a Belated Income Tax Return

The financial year 2022–2023’s income tax return filing due date passed on July 31, 2023. They may submit a late return, commonly referred to as a belated return, when you were obligated to file the income tax return but failed to do so by the initial due date. A belated return has been submitted after the original deadline (July 31) but before the further deadline (December 31).

In this article, we’ll assist you step-by-step through the process of completing a belated income tax return to make sure you’re qualified to do so properly and without incurring any additional penalties. We are going to tackle common concerns and questions that taxpayers have after missing the due date in addition to providing helpful suggestions to speed up the filing process.

Last Date for Filing ITR for AY 2022–2023

According to section 139(1), the deadline for filing returns for the Assessment Year 2022–23 is July 31, 2023, until the government extends the due date.

A lot of taxpayers believe that once they have paid their taxes, they are done with their obligations. The ITR filing date needs to be met, yet doing so has legal implications.

Penalty for Late Filing of ITR

Until a postponement is granted, taxpayers are obligated to file an income tax return for any income received up to July 31 of the assessment year which pertains to the financial year.

During Assessment Year (A.Y.), the federal government offers a four-month opportunity for tax-paying individuals to compile their income information for the appropriate financial year and file income tax forms. The four-month period in concern begins on April 1 and concludes on July 31 (apart from extension).

When the person purposefully ignores notices to file a return, the income tax officer might start criminal proceedings. Three months to two years of jail is possible, along with a fine.

The possible jail time could rise to seven years when the amount of tax you due to the income tax department is larger.

According to the modified guidelines published under section 234F of the Income Tax Act, submitting your ITR after the due date may subject you to a maximum penalty of Rs. 5,000. The penalty for late filing of ITR charge of up to 50% of the tax due can be additionally imposed by the income tax officer in circumstances where income is underreported.


Benefits of Filing ITR on Time

They do feel responsible and proud of themselves when they file their ITR on time, however, the advantages persist from here. One can gain additional advantages by submitting your ITR on time by:

  • Easy approval of loans: People are going to benefit from filing the ITR when they need to apply for a loan for a vehicle (2- or 4-wheel), a home mortgage, a personal loan, etc.
  • Claim a Tax Refund: To receive your income tax return to be adequately processed as well as for you to be qualified for a tax refund when you have underpaid taxes to the Internal Revenue Service, you should file it as soon as possible.
  • Proof of income along with an address: Whenever seeking a loan or visa, you have to submit documentation of your place of residence and income, which can be provided by using your income tax return.
  • Carry Over Your Losses: Losses may be carried over to later years if your income tax return is filed before the deadline. Such losses may be used as a deduction from upcoming earnings.
  • Eliminate Penalties and Punishment: In implementing the recommendations provided in the article beneath, one can prevent the income tax department from commencing legal action.

What Happens If ITR Is Not Filed?

They may submit an online return and apply for condonation of delay if they’ve neglected to submit an ITR for previous years.

In that case, you can file an online return and request a condonation of delay by using an e-filing site if you’ve failed to file your income tax return (ITR) for the financial year 2021–2022 by the deadline of March 31, 2023.

Delayed Filing of Income Tax Return (ITR) – How to Do?

  1. Log onto your e-filing account to complete the same.
  2. Go to the “Services” page and choose “Condonation Request.”
  3. Click the “Continue” button following selecting “Allow ITR filing after time-barred.”
  4. Select “Create Condonation Request” from the following page.
  5. Enter the information that’s needed now, attach the ITR, and then submit.
  6. Then you have the chance to e-verify after a successful submission.

The processing of the ITR is conditional with the condonation request being approved. You can monitor the progress of the submitted application seeking forgiveness.


In conclusion, although it’s preferable to submit income tax returns before the due date, unexpected events can lead anyone to miss them. If you discover yourself in this situation, avoid waiting any longer and submit your belated income tax return right now. As mentioned above, this is a lengthy and complex process but at Taxxinn we take you through a hassle-free process.

Related Reads:

Documents Needed to File ITR- individuals, Salaried Persons and Businesses.

What Are the Tax Exemptions to Startups by the Indian Government and Eligibility to Claim?