How to File ITR After Due Date

Filing your Income Tax Return (ITR) is one of the most important financial tasks every Indian taxpayer must complete. But let’s be honest – we’ve all missed deadlines at some point. Whether it was a busy schedule, confusion about the process, or simply forgetting, it happens. If you've missed the ITR deadline, don’t worry. You can still file your return, but there are some things you should know.

In this article, I’ll walk you through how to file ITR after the due date, why it's important, the steps involved, and what happens if you delay too much. The best part? You don’t need to be a finance expert to understand any of this. So, let’s get started.

Why Filing ITR on Time Matters

Before we dive into how to file ITR after due date, let’s understand why it’s crucial to file it in the first place.

• Missing the deadline means you may be charged a late filing fee.
• You can only claim tax refunds after filing ITR.
• Most lenders ask for your ITR as proof of income.
• You’ll be charged interest under Section 234A if you owe tax and file late.
• Filing late can make you fall under the scrutiny of tax authorities.

According to the Income Tax Department in July 2023, over 7 crore ITRs were filed for the assessment year 2023-24.


Also Read: ITR Filing Deadline for FY 2024-25 (AY 2025-26)

What is a Belated Return?

If you file your ITR after the due date, it is called a belated return. Earlier, you could file this by March 31 of next year. But now, the due date to file a belated return is December 31 of the assessment year.

For example,

If FY 2023-24 ends on March 31, 2024, the assessment year is 2024-25. For this, you can file a belated return till December 31, 2024

Who Can File ITR After the Due Date?

Any taxpayer who missed the original deadline can file a belated return. This includes:

• Salaried employees
• Self-employed professionals
• Freelancers
• Business owners

Even if your income is below the taxable limit, filing ITR helps keep your financial records clean and allows you to claim deductions or carry forward losses.

Step-By-Step: How to File ITR Online After the Due Date

Filing late doesn’t mean you need to visit any office. The good news is that you can easily learn how to file ITR after due date online.

Here’s how you can do it:

• Visit the Income Tax e-filing portal.
• Log in using your PAN and password.
• Click on “File Income Tax Return”.
• Select the correct assessment year.
• Choose the correct ITR form. For most salaried individuals, it’s ITR-1.
• Enter all required details.
• Select “Belated Return” under the “Return Filing Section.
• Validate, preview and submit the return.
• E-verify the return using Aadhaar OTP or net banking.

And, that’s it! That’s exactly how to file ITR online after due date without any hassles.

Also Read: Everything you should know about ITR filing

Points to Remember While Filing ITR Late

If you want to know how to fill ITR after due date, here are a few things to keep in mind:

• Late filing fee: Under Section 234F of the Income Tax Act of India, 1961, you may have to pay up to INR 5,000 as a penalty. If your total income is below INR 5 lakh, the penalty is limited to INR 1,000.
• No loss carry forward: If you had capital or business losses, you cannot carry them forward if you file late.
• Interest charges: If you have unpaid tax, interest is charged at 1% per month under Section 234A.
• Refund delays: If you’re expecting a refund, it may take longer.

How to File ITR After Due Date Without Errors: Some Tips

Filing late is stressful. But making errors can make it worse. Here's what to double-check before submission:

• PAN and Aadhaar details
• Correct bank account for refund
• Income details from Form 16 or salary slips
• Investment proofs and deductions
• Advance tax or TDS (tax deducted at source) already paid

The Bottom Line

Missing the ITR deadline is not ideal, but it’s also not the end of the world. Now that you know how to file ITR after the due date online, you can still complete the process and stay compliant. Just follow the steps, be honest with your information, and file as soon as you can.

Understanding how to file ITR after the due date can help you avoid deeper financial troubles later. So, take action now!

Moreover, you should explore your options today if you're considering leveraging tax benefits through loans. Apply for a loan with favorable tax implications and move towards achieving your financial goals.

If you want to check your eligibility for the loan, use a loan eligibility calculator. This free online tool will take in all the necessary information and let you know the amount you can borrow through a loan.

FAQs

Q.1. Can ITR be filed after 31st December?

A. Yes, you can file income tax return after 31st December. This can be done using ITR-U. However, you will be penalised with a fine of INR 5,000. Moreover, additional tax will be levied at 25% or 50% of the tax and interest due, depending on whether the ITR-U is filed within 12 or 24 months from the end of the relevant year.

Q.2. How do I file my 2 year old ITR?

A. You can still update your filings using the ITR-U form if you've missed filing ITR. This provision was introduced in the Union Budget in the year 2022. This form allows you to file for past returns up to 2 years after the relevant assessment year, helping you avoid penalties.

Q.3. What if I miss my income tax return deadline?

A. If you missed filing ITR for the previous year, you can file a belated return on or before 31st December of the relevant assessment year. For example, for the AY 2025-26, the timeline to file a belated return will be on or before 31 December 2025.

Q.4. How to file a belated ITR?

A. To file a belated ITR return, under Section 139(4), you will have to pay a late fee of INR 5000 or INR 1000 and file a belated return by 31st December.

Q.5. Can I skip filing ITR for a year?

A. Not filing your Income Tax Return (ITR) timely and consistently can lead to serious legal consequences, especially if you owe more than INR 25,000 in taxes. If you skip filing ITR, you could face imprisonment for 6 months to 7 years along with a fine.

Disclaimer:

The contents of this article are for information purposes only and not a financial advisory. The information is subject to update, revision, and amendment and may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its Affiliates to any requirements. Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any decisions, financial or otherwise based on the contents and information mentioned. For more information, please visit www.godrejcapital.com