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Due Date to file Belated ITR for F.Y 2021-22 is 31st Dec 2022


What is a Belated Return?

The due date to file the income tax return for the financial year 2022-23 ended on 31st July 2022. If you were required to file the return but missed filing your income tax return within the original deadline, then you can file a late return, known as Belated Return. A belated return is a return filed after the initial deadline (31st July) but before the extended deadline (31st December).


The taxpayers who missed the income tax return deadline will miss the last opportunity to file their income tax returns and can expect the income tax proceedings any time in the near future. After 31st December 2022, the window for filing the revised or belated ITR (income tax return) is also going to be closed on December 31.

So, if you were not able to file your income tax return by July 1, 2022, or had filed the ITR but made some mistake in that, you can correct the course by filing a belated or revised ITR by December 31, 2022.

The original deadline for filing the income tax returns for the assessment year 2022-23 was July 31, and the last date was not extended this year. According to the official website of the income tax department, out of 10,74,16,060 taxpayers, 7,06,88,702 people filed their income tax returns.

In the beginning, income tax return filing was slow, but the pace picked up as the deadline neared. The Income Tax Act, 1961 provides a few penal provisions to curb tax evasion and penalize the defaulters in case of non-filing of returns and non/short payment of income tax.

A penalty of Rs 5,000 will be charged for the delay in filing returns if the total income to be reported exceeds Rs 5 lakh. For small taxpayers, if the total income of the person is less than Rs 5 lakh, then the fee payable is up to Rs 1,000.

What are the disadvantages of filing a belated return?

  • Interest may be applicable under sections 234A, 234B, and 234C.
  • A late fee will be levied under Section 234F while filing a belated return:
    • Gross total income is up to Rs 2.5 lakhs: No Penalty
    • Gross total income is Rs 2.5 lakhs – Rs 5 lakhs: Rs 1,000 fee
    • Gross Total income more than Rs 5 lakhs: Rs 5,000 fee
  • If you file a loss return after the due date, many losses, like business and capital losses, cannot be carried forward for set off in the subsequent years. However, an exception is available for losses from house property that can be carried forward even if you file your returns late.
  • Deductions/ Exemptions Disallowed: Deductions/ exemptions u/s 10A, 10B, 80-IA, 80-IB, 80-IC, 80-ID, and 80-IE shall not be available if you delay ITR filing. These tax-saving benefits are allowed only if the ITR is filed before the original deadline.


Consequences of not filing it before 31st December 2022:

After December 31st of the relevant assessment year, one cannot voluntarily file ITRs. After that, if and when the income-tax department picks up your income and tax details available for scrutiny, the department will direct the defaulter on how to comply with the mandatory provisions by paying penalties and interest. Section 234 of the Income Tax Act, 1961 deals with penal interest that are levied in cases of delay in paying income tax on time

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