The due date for filing income tax return for  corporate assessees and other assessees who are  required to get their accounts audited under Income Tax Act 1961 or under any other law for the time being in force is 30th September and for others it is 31st July every year as have been prescribed u/s 139(1).

 For a layman sometimes it may create doubt if he fails to file his return of Income within due date, whether he can file his return of Income after the due date, especially when  he is under no obligation  to get his accounts audited under Income Tax Act or under any other law.

The answer to this question is yes. Under section 139(4) a belated return can be filed as follows :-

For  Assessment Year 2016-17 and Assessment Year Prior to A.Y 2016-17-  at any time before before the expiry of one year from the end of relevant assessment year or before the completion of assessment whichever is earlier.

In other word a belated income tax return for FY 2015-16 (AY 2016-17) can be filed up to 31-03-2018 or before the completion of assessment whichever is earlier

For  Assessment Year 2017-18 and after-  at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In other word a belated income tax return for FY 2016-17 (AY 2017-18) can be now filed only up to 31-03-2018 or before the completion of assessment whichever is earlier

But, where the assessee has some capital loss or loss from business or profession to be carried forward he should file his return of income within the due date as prescribed u/s 139(1). As per section 139(3), no loss shall be allowed to be carried forward under the head Business or Profession or under the head Capital Gain unless the return is filed within the due date as mentioned in section 139(1).

Where return of income is filed after the due date, interest u/s 234A will be payable. But if there is already tax has been deducted from the income of the assessee or advance tax has been paid by the assessee and there remains no tax to be paid after such T.D.S or advance tax then no interest is levied u/s 234A for filing the return after the due date.

It is to be noted that a penalty of Rs 5000 may be imposed u/s 271F if the return of income is not filed within the end of the relevant assessment year. For example, such penalty is imposable if return for asst. year 2011-12 is not filed by 31st March 2012.

It should also be noted that where a belated return is filed u/s 139(4), no revised return u/s 139(5) can be filed as it was held in Jagdish Chandra Sinha v. CIT 220 ITR 67 (SC).

Thus if your due date for filing return was 31st July  and you miss to file it within due date you can still file it after the due date as stated above.

(Author – Amit Bajaj Advocate, Bajaj & Bajaj Advocates, 128, Sangam complex, Milap chowk, Jalandhar City (Punjab), Email: amit@amitbajajadvocate.com, M +919815243335)
(Republished with Amendments)

More Under Income Tax

Posted Under

Category : Income Tax (27629)
Type : Articles (17302) Featured (4029)

65 responses to “Consequences of Filing Income Tax Return After Due Date”

  1. NAINA says:

    helo sir/mam,,,,,,m filing my return of ass yr 15-16,bt wen m subtimming itsd giving me an error n asking me the reason to file under section 44AA of income tax Act..kindly help me ASAP….

  2. LVPH says:

    I am a retired senior male, resident Indian aged 69 years. I have income only from other sources ie income from house property and some Bank FDs coupled with savings bank accounts.
    All transactions have been /are thru banking channels only.
    I missed filing tax returns for FY2010-11(net taxable income rs 6.3 lakhs), FY2011-12(net taxable income rs 8.5 lakhs, and FY2012-13(net taxable income rs 9.3 lakhs).
    Subsequently on realization of the omissions and need to regularise, started filing returns in 2015.Then I could file tax returns only for FY2013-14 and FY2014-15 and not for the years beyond, which I did and got the assessment/refund order for these two years during 2015. However I could pay for those pending years only voluntary taxes and cannot upload the connected returns.
    Accordingly, calculated the tax due for those pending years as above and paid the due taxes as voluntary taxes in 2015. The tax paid details have appeared in the respective form 26AS.
    Also, I was told to hold on to the interest due to late payment of taxes and the penalty for non-filing of returns for these years involved, as it needs to be paid only against a notice to be issued by the tax authorities. So far I have not received any notice for payment of the interest involved and penalty for non-filing with respect to those years or anything for that matter including for the non-filing of returns too. Also there are no pending action points from my side on the tax authority’s web site and it says” No compliance record relating filing of return is pending how to regularize the above omissions and come up-to-date on my tax matters.

  3. lvph says:

    I am a retired senior male, resident Indian aged 69 years. I have income only from other sources ie income from house property and some Bank FDs coupled with savings bank accounts.
    All transactions have been /are thru banking channels only.
    I missed filing tax returns for FY2010-11(net taxable income rs 6.3 lakhs), FY2011-12(net taxable income rs 8.5 lakhs, and FY2012-13(net taxable income rs 9.3 lakhs).
    Subsequently on realization of the omissions and need to regularise, started filing returns in 2015.Then I could file tax returns only for FY2013-14 and FY2014-15 and not for the years beyond, which I did and got the assessment/refund order for these two years during 2015. However I could pay for those pending years only voluntary taxes and cannot upload the connected returns.
    Accordingly, calculated the tax due for those pending years as above and paid the due taxes as voluntary taxes in 2015. The tax paid details have appeared in the respective form 26AS.
    Also, I was told to hold on to the interest due to late payment of taxes and the penalty for non-filing of returns for these years involved, as it needs to be paid only against a notice to be issued by the tax authorities. So far I have not received any notice for payment of the interest involved and penalty for non-filing with respect to those years or anything for that matter including for the non-filing of returns too. Also there are no pending action points from my side on the tax authority’s web site and it says” No compliance record relating filing of return is pending in your case” even as on date.
    Kindly let me know how to regularize the above omissions and come up-to-date on my tax matters.

  4. BalakrishnanGurumurti says:

    in case of old persons above 74 when there is no income but living on allowances given by some one say about 20,000 a month is there any liability to file nil return?

  5. V K Kandhari says:

    Sir, My Income Tax unpaid by me on 31,3,2008 was Rs 7907 It was deposited in bank on 13 6.2008. What will be interest payable by me under Section 234B

  6. Abhishek says:

    Please suggest me
    Q. An individual assessee how had been filed his ITR continuously til 2006-07 after that he have no filling any ITR 2014-15 til date. But he want to loan from bank for his business and bank is demanding document of three year ITR so please me how to fill itr of p.y.2012-13.

    THANKS

  7. PAVAN says:

    Dear Sir,

    IF a Society fails to file its return (FY 2013-14) till the date(03/12/2015) what is the procedure to file its return, and what may be the penalty…????

    Thanks in anticipation of your reply

    Regards,
    Pavan

  8. samir biswas says:

    Rebate U/S 87A ASSESSMENT YEAR 2014-15 IS ALLOW .Date of filling 10/04/2015.
    TOTAL INCOME RS 2,08,750.00 . SECTION 271F PENALTY APPLICABLE .PLEASE SUGGEST .

  9. prasanta kr pal says:

    hi, AY2013-14 can be file after 31/03/2015 U/S142(1)

    • P.P.Neogi says:

      Respected Sir,

      Please inform me than if the Income Tax Return of A Pvt Ltd Co not file for the financial Year of 2013-2014 and 2014- 2015 till 27.09.2015. If the Company is ready to file the Return – any Legal Problem May come or not. Company dont have any statuary due left.

      Thanks And Regards.
      P.P.Neogi.
      Faridabad.

    • P.P.Neogi says:

      Respected Sir,
      Is it Possible to file the Income Tax Return of PVT LTD Co for the Year of 2013-14,2014-15 after 30th of Sep 2015?

      Regards,
      P.P.Neogi

  10. Prakash Bhawsar says:

    Dear sir,

    what shuld be if efiling a. y. 2013-14 after due date ( e filing date 10/09/2014

  11. Dhiren says:

    Dear sir,
    i have my filing assessment year 2013-14 and tds refund claim A.Y.2011-12But my received refund by a.y.2012-13,because 2011-12 refund wo r u itr claim u help me sir pls given my email id answe

    thanx regard
    Dhiren Parmar

  12. P.K MISHRA says:

    While e-filing of AY-2014-15 tax is being computed as Rs-152471/- whereas tax has already been deducted Rs-152470/- i.e. Rs 1/- less.What shoud I do now ? Should I continue filling ITR-1?

  13. VIKRAM says:

    DEAR SIR,

    I am filling my e-return A.y 13-14 but ITR-V copy not submitted by my end .

    Please let me know what I am do for this matter.

    Thanks & Regards

    Vikram

  14. mona says:

    i have not filed my ITR for financial year 2012-2013 (A/Y 13-14) BUT TDS WAS Deducted from my salary. whether i have to filled ITR For financial year 2012-2013.
    i have also not filed ITR for financial year 2013-2014 (2013-2014) till yet and last date i.e.31st july has gone and i want to claim benefit of sec.80C that is I WANT TO INVEST 1.5 lakh in 80C Schemes.
    whether i have ITR file ITR both financial year i.e. 2012-2013 and 2013-2014?
    and for claimimg 80C benefit i have to invest now or i can invest any time upto 31st march 2015

  15. Kanhaiya lal jangir says:

    Hello Mr. Bajaj
    My query is that if a belated return u/s 139(4) Can I f.Y.2012-13 A.Y.2013-2014 rutran is filed after its due date i.e. after expiry of 1 year from the end of the A.Y. can a refund still be claimed? If yes, So please tell me last date and under which section interest charged?

  16. MUKESH says:

    i had not filled return of 20`12-1`3 assessment year,and i am having refund can i file return and get refund

  17. Surender Pal says:

    Dear Mr Bajaj

    I could not e file my I t return for FY 2010-11 i.e AY 2011-12

    As it is now May 2014 ,can the AO issue a notice for filing the retuen

    Regards

Leave a Reply

Your email address will not be published. Required fields are marked *