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Background about due dates for income tax returns

First, let us have a look at due dates for income tax returns. Due dates are governed by Section 139 of the Income Tax Act.

The most relevant ones are as follows:

No. Type of assessee Due date (after the end of financial year)
1 Non- Audit cases 31-July
2 Where Audit is required under the Income tax or any other Law 31-Oct
3 Where Audit is to be done under Section 92E 30-Nov

The above dates as per Section 139(1).

What happens if you missed the above dates for filing returns?

You can still file belated returns under Section 139 (4). Belated returns are income tax returns filed after the prescribed due dates.

Earlier one could file belated returns by March but this year one can file only upto December.  This year, the present month i.e. December 2022 is actually the last month to file belated income tax returns for Financial Year 2021-22. (unless there is an extension declared by the Government).

This is because of a change introduced in Section 139 (4) –

Earlier the section read:

“Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

The amended section reads as follows:

“Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the [return for any previous year at any time before three months prior to] the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.”

Hence for financial year 2021-22 i.e for the relevant assessment year 2022-23, the last month of filing income tax returns is December 2022.

Is the case same with Revised returns?

Yes, the same is the case with the revised returns.

Returns may be revised if the tax payer discovers any omission or any wrong statement therein. The facility to revise returns is governed by Section 139 (5).

Earlier the section read:

If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time prior to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

The amended section reads as follows:

If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before three months prior to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

Thus even revised returns may be filed upto December 31, 2022 for the Financial Year 21-22 (relevant to Assessment year 22-23)

In case of any queries, email to info@entrecap.in

Author Bio

I have 7 years experience in Accounts and Tax. I am owner of Entrecap Business Services. We have associates 'on the ground' pan- India to provide 'person to person' services relating to tax, accounts and RoC matters. Website is www.entrecap.in Email us at info@entrecap.in View Full Profile

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