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Meaning : A belated return is a return which is not filed in prescribed time as mentioned u/s 139(1) or within the time allowed under a notice issued by the assessing officer u/s 142(1).

Time limit for filing a belated return : A belated return can be filed on or before the expiry of 1 year from the end of relevant assessment year (AY2) or before the completion of best judgement assessment whichever date is earlier.

Note 1: The date of completion of assessment is date on which assessment order was passed (signed) and not the date of service of notice of order upon the assessee (received). E.g. Date of signing of Best Judgment Assessment order is 31-12-2016 then last day of filing of belated return is 30-12-2016.

Note 2: If the return is filed after the above-mentioned period it shall be treated as invalid return.

Consequences of late filing of return

  1. The losses mentioned u/s 139(3) is not allowed to be carried forward.
  2. Belated return cannot be revised.
  3. Liable for payment of interest u/s 234A.
  4. Penalty can be levied u/s 271F.

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  1. CA Sunil Vinchu says:

    What really is the locus standii of the belated return, which is filed after one year from the end of the A.Y…? Invalid, then in what sense..? I mean if I file it with Penaly u/s271F along with the Income Tax and Interest u/s 234A+B+C, then why should I not be given a credit thereof in computation of my Income for that A.Y…? If the intention of the Assessee is bonafide then I think that return should be considered legal and valid in real sense of the term…! Do guide with Your expert opinion, Sir.

  2. Brinda Shah says:

    Return filed after 1 year of end of relevant assessment year wont be considered invalid. It will still be valid only subject to the conditions mentioned by you.

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