Belated ITR For AY 24-25: File Before December 31, 2024

If you missed filing your income tax return (ITR) before July 31, 2024, you can still do so before December 31, 2024 for the financial year (FY) 2023-24, i.e., assessment year (AY) 2024-25.

Individual taxpayers can file their return before December 31, 2024 after paying a fee. If the return is less than ₹5 lakh, a fee of ₹1,000 is required, while for more than ₹5 lakh, a fee of ₹5,000 is required.

Filing Belated ITR

When filing a belated ITR, it is important to consider a few points, such as; loss cannot be carried forward, interest levy under Section 234A, fee levy under Section 234F (₹1,000 or ₹5,000), exemptions under sections 10A, 10B, and deduction under Part-C of Chapter VI-A, which are not available.

Levy Of Fee

The late fee for income less than Rs 5 lakh is Rs 1,000, while for income more than Rs 5 lakh, it is Rs 5,000. 

Should the taxpayer miss providing crucial information on their ITRs or make errors while completing their ITR, they can file a revised ITR.

A return may be changed at any time three months before the end of the relevant assessment year or before the conclusion of the assessment, whichever occurs first.

Here's how you can file your belated ITR

1. Log into your e-filing account.

2. Click on e-file, then income tax returns.

3. Choose the applicable evaluation year.

4. Select Start New Filing.

5. Select the category: Individual, HUF, or Others.

6. Select the ITR form (ITR-1, ITR-2, ITR-3, etc).

7. File your return.