Income Tax Returns; File Before December 31 If You Have Not Yet Filed

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Income Tax Return Filing (ITR) Filling

Although the deadline for filling ITR was July 31 but however, one can file a late return till December 31.

Belated ITR

A belated ITR is a return submitted after the initial deadline of July 31. Section 139(4) of the Income Tax Act allows taxpayers to file their ITRs past the deadline, provided it is done before December 31.

What Are The Penalties For Delaying

If one is filing after the original deadline of July 31 but before December 31, one will be charged a late fee:

  • Rs 5,000 if annual income exceeds Rs 5 lakh.

  • Rs 1,000 if annual income is below Rs 5 lakh.

Missing December Deadline

Failing to meet the December 31 deadline for submitting late income tax return incurs a fine. Additionally, this delay may lead to legal consequences and increased examination of future tax filings.

Steps To File ITR

The first step is to log in to the e-Filing Portal, choose the Correct ITR Form, select the Assessment Year followed by entering the required information. After this outstanding payments are cleared and submission is done.

ITR Filling steps

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