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Consequences of Filing Income Tax Return After Due Date

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 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)
Categories: Income Tax

View Comments (66)

  • 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?

  • 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.

  • 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.

  • 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....

  • i have registered my trust in 2012 but i did not file any income tax return till now . i did not have apply pan card and i have not made any transaction in these years.

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