Due date to file income-tax- return (ITR) for FY 2022-23 (AY 2023-24) was July 31, 2023. If you are wondering whether the IT department has extended this deadline like previous years, then the answer is no. The IT department has not extended the deadline to file ITR.

Despite of many requests from the taxpayers in  social media for extending the ITR-filing deadline, the income tax department of India did not extended the ITR – filing date.

what can we do now?

if you missed to file ITR before the deadline .you are allowed to file ITR by paying penality.

The penality will be up to  RS 5,000 ,ITR -filed after due date expiry is called BELATED ITR.

Belated  return filed after the initial deadline ( July 31st ) but before the extended- deadline (31st December).

Diasdavantages of late ITR FILING :

  • Interest may be applicable under sections 234A234B and 234C.
  • Late fees  will be levied under Section 234F while filing a belated return:
    • IF the Gross total income is up to Rs 2.5 lakh: No Penalty
    • If Gross total income is between  Rs 2.5 lakh – Rs 5 lakh: Rs 1,000 fee
    • Gross Total income exceeds Rs 5 lakh: Rs 5,000 fee
  • If you file  loss return after the due date, many losses, like business and capital losses, cannot be carried forward  in the subsequent years.An exception  available for losses from house property that can be carried forward even if you file your returns late.
  • Deductions/ Exemptions Disallowed: Deductions/ exemptions u/s 10A, 10B, 80-IA, 80-IB, 80-IC, 80-ID and 80-IE shall not be available if you delay ITR filingyou will loose Tax savings. These tax-saving benefits are allowed only if the ITR is filed before the original deadline.



Belated return u/s 139(4) can be filed in any of the following two methods:

 professional tax service providers helps to file tax accurately.
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