Belated Return

Belated Return

Category : Law of Taxation

Belated Return can be filed at any time before the end of the relevant assessment year or before the completion of assessment whichever is earlier.
In simple words, in case you’ve not been able to file your income tax return before the prescribed due date, you can still file a belated return of income tax after the due date as well. Under Section 139(1), the normal due date of filing of income tax return is Particulars Due Date
Where the taxpayer is
1. Company
2. Any person mandatorily required to get his tax audit done
3. A working partner of a firm whose accounts are required to be audited
30th Sept of the Assessment Year
In case of any other category of taxpayer i.e. Salaried/ Self employed/ Contract
Employee who are not required to get their tax audit done
31st July of the Assessment Year

If a taxpayer fails to submit his income tax return
1. On or before the due date mentioned under Section 139(1), or
2. If the income tax return is not filed before the due date and the income tax officer has issued a notice under section 142(1) directing the taxpayer to file his income tax return within the time specified in the notice and he has not even filed his return as required in the notice he can still file his income tax return even after the due date. Such an income tax return filed after the due date is called Belated Return.
Belated Return can be filed at any time before the end of the relevant assessment year or before the completion of assessment whichever is earlier (applicable from Assessment Year 2017-18 onwards). This can be explained with the help of an example

If due to any reason, the taxpayer is not able to file his income tax return, he can still submit a
belated return before the end of the assessment year i.e. before 31st March 2019. However, in
case you have not filed your income tax return and the income tax officer has himself started
conducting the assessment, the taxpayer can file his income tax return any time before the
completion of assessment or before 31st
March (whichever is earlier).
INTEREST UNDER SECTION 234A FOR LATE FILING
If a belated return is filed after the income tax due date, the taxpayer would be liable to pay the tax along with Interest @ 1% per month (simple interest) under Section 234A.
In case no tax is payable, the taxpayer won’t be liable to pay any interest for filing belated return of income tax after due date but before the end of the relevant assessment year.
PENALTY FOR LATE FILING OF INCOME TAX RETURN
In case the Income Tax Return after the due date, it would be considered as a Belated Return and the following penalty would also be required to be paid
Particulars Amount
If the Income is less than Rs. 5 Lakhs Rs. 1,000
If the Income is more than Rs. 5 Lakhs
Belated Return filed before 31st Dec Rs. 5,000
Belated Return filed after 31st Jan Rs. 10,000


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