Filing Income Tax Returns (ITRs) is an essential obligation for taxpayers in India. It helps individuals and businesses ensure compliance with tax laws while contributing to the nation’s growth. However, missing the original filing deadline can be stressful. Thankfully, the Income Tax Department allows taxpayers to file a belated return, offering a second chance to fulfil their tax obligations. For FY 2024–25, taxpayers who missed the 31st July deadline have until 15th September 2025 to file their belated ITRs. This article will guide you through the process, penalties, and practical tips for filing belated returns seamlessly.
What is a belated return?
A belated return is an Income Tax Return filed after the original due date has passed. It allows taxpayers to rectify missed deadlines and report their income, deductions, and tax liabilities. While filing a belated return ensures compliance, it comes with certain penalties and restrictions. Here are key points to understand:
- Who can file: Taxpayers who missed the original filing date can file a belated return.
- Implications: Filing a belated return may attract penalties, interest on unpaid taxes, and loss of certain benefits like carrying forward losses.
- Relevant provisions: Section 139(4) of the Income Tax Act governs belated returns.
Belated return due date for FY 2024–25
For FY 2024–25 (Assessment Year 2025–26), the belated return filing deadline is extended to 15th September 2025. This extension provides taxpayers additional time beyond the original due date of 31st July 2025. Filing within this extended period is crucial to avoid penalties and ensure compliance with tax laws.
Taxpayers should leverage this opportunity to file their returns promptly, ensuring they meet all necessary requirements and avoid further complications.
Filing ITR for previous year
Taxpayers can file their ITR for the previous financial year even if they missed the original deadline. For example, if you failed to file your return for FY 2024–25 by 31st July 2025, you can still file a belated return by 15th September 2025.
When filing, ensure that:
- You gather all relevant financial documents, such as Form 16, bank statements, and investment proofs.
- Calculate any pending tax liabilities and include applicable penalties.
- Use the Income Tax Department’s online portal or offline methods to file your return accurately.
Eligibility criteria for filing a belated return
Not all taxpayers can file a belated return. Here are the eligibility criteria:
- Missed original deadline: Taxpayers who failed to file their ITR by 31st July 2025 are eligible.
- Taxable income: Individuals with taxable income above the exemption limit must file their return.
- Compliance obligations: Businesses and entities required to file an ITR under Section 139(1) can file a belated return.
- Restrictions: Taxpayers cannot file a belated return if they miss the extended deadline of 15th September 2025.
What is the penalty for filing a belated ITR?
Filing a belated return comes with financial implications. Here is a detailed breakdown of penalties:
Late filing fees under Section 234F:
- Taxpayers with income below Rs. 5 lakh: Rs. 1,000.
- Taxpayers with income above Rs. 5 lakh: Rs. 5,000.
Interest on unpaid taxes under Section 234A:
- Taxpayers must pay 1% interest per month on any outstanding tax liability from the original due date until the filing date.
Loss of benefits:
- Taxpayers cannot carry forward certain losses, such as business losses or capital losses, when filing a belated return.
For example, if you owe Rs. 50,000 in taxes and file your return two months late, you will incur a late fee of Rs. 5,000 (for income above Rs. 5 lakh) and an interest penalty of Rs. 1,000 (1% of Rs. 50,000 for two months).
How to file belated returns for FY 2024–25
Filing a belated return is simple and can be done through online or offline methods. Here is a brief overview:
- Online method: Use the Income Tax Department’s official portal to file your return electronically.
- Offline method: Submit physical forms at designated tax offices.
Taking action promptly can help you avoid escalating penalties. File your belated ITR today to stay compliant!
Online method: Steps to file belated returns online for FY 2024–25
Follow these steps to file your belated return online:
- Log in: Visit the Income Tax Department’s portal and log in using your credentials.
- Select assessment year: Choose AY 2025–26 for FY 2024–25.
- Fill details: Enter your income, deductions, and tax liability accurately.
- Upload documents: Attach required documents, such as Form 16 and investment proofs.
- Pay taxes: Calculate and pay any pending taxes along with penalties.
- Submit return: Review your form and submit it electronically.
Once submitted, download the acknowledgment for your records.
Offline method: Steps to file belated returns offline for FY 2024–25
If you prefer offline filing, follow these steps:
- Obtain forms: Collect the relevant ITR forms from your nearest tax office or download them online.
- Fill details: Manually enter your income, deductions, and tax liability.
- Attach documents: Include supporting documents like Form 16 and bank statements.
- Pay taxes: Visit a bank to pay any outstanding taxes and penalties.
- Submit forms: Submit the completed forms and payment receipts at the tax office.
Ensure you keep copies of all documents for future reference.
How to file the missed returns for FY 2024–25
Here is a detailed breakdown of filing missed ITRs:
- Document preparation: Gather all necessary documents, including Form 16, investment proofs, and bank statements.
- Tax calculation: Calculate your income, deductions, and tax liability, including penalties.
- Filing methods: Choose between online or offline filing based on your preference.
- Submit return: File your return accurately and submit it before the extended deadline of 15th September 2025.
Pro-tip: Use digital tools or set reminders to ensure timely filing in the future.
What to do if you receive a late payment notice
Receiving a late payment notice can be overwhelming, but it is manageable. Here is what you can do:
- Review the notice: Log in to the Income Tax Department’s portal and check the details of the notice.
- Respond promptly: Rectify errors online or correspond with the tax office physically.
- Pay dues: Clear any outstanding taxes and penalties to avoid further escalation.
Taking swift action can help you resolve the issue efficiently.
What if you missed the belated ITR deadline
If you miss the extended deadline of 15th September 2025, you can explore the following options:
- Voluntary disclosure: File under Section 119(2)(b) to seek condonation for late filing.
- Consult a tax expert: Seek professional advice to navigate compliance issues.
Acting promptly can help mitigate penalties and legal complications.
Conclusion
Filing a belated return for FY 2024–25 is a straightforward way to rectify missed deadlines and fulfil your tax obligations. While penalties apply, they can be managed with timely action and accurate filing. Use the extended deadline of 15th September 2025 to stay compliant and avoid further complications.
Take the first step today—file your belated ITR online or offline to ensure peace of mind and financial security.
