The officer can accept your request based on the following criteria: Request the Income Tax Commissioner or the prescribed authority to permit you to file income tax returns and state the reason for missing the deadline.The following ways help you file a condonation of delay request: The income tax department allows taxpayers to file returns post-deadline in some specific cases. There is no provision for you to file the returns once you have missed the due date. The amendment made in the Finance Act 2016 stated that income tax returns must be filed within the end of the relevant assessment year, effective from the assessment year 2017-18. How to file the missed returns for FY 2020-21 However, an exception is available for losses from house property that can be carried forward even if you file your returns late. You cannot carry forward some losses that belong to the years for which you did not file returns.However, from FY 2016-17, a belated return can also be revised. 10,000 shall be payable if the return is filed after 10th January 2021. Note: For FY 2019-20 the last date to file the income tax return was 10th January 2021 so late fee of Rs. Post 31 December 2019, the late fee would be Rs 10,000. After that, the fine can go upto Rs 10,000.įor the FY 2018-19 (AY 2019-20), if the return is filed after 31 August 2019 but before 31 December 2019, a fee of Rs 5000 applies. A fee under Section 234F would be levied upto Rs 5000, if the return is filed on or before 31 March of the relevant AY.Interest may be applicable under section 234A, 234B and 234C.Currently, such a revision has to be done on or before the end of the relevant AY. It is interesting to note that from the AY 2018-19, the time limit for filing a revised return (rectifying any omission, error etc.) made in the original return has been reduced. Until AY 2017-18, there was a time limit of 1 year for filing a revised return from the end of the relevant AY. Usually, a taxpayer files old returns as a response to an income tax notice. You can then print this return and submit it to the Income Tax Office in your ward. If you have received a notice from the Income Tax Department asking you to file your returns that go beyond 2 financial years, you can log on to to prepare your returns. What to do if you receive a late payment notice This date has been extended by CBDT to 31st March 2022 specifically for FY 20-21. With effect from AY 2021-22, you can file the belated return three months before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.įor example, the belated return for the FY 2020-21 can be filed up to 31st December 2021 (if assessment is not completed). However, the Finance Bill 2021 has further reduced the timeline of filing the belated return. Hence, for the FY 2019-20, the last day to file a belated return was 31 March 2021. With the amendment vide Finance Act 2016, from AY 2017-18 belated IT returns should be filed before the end of the relevant AY. Example, for the AY 2016-17, the timeline to file a belated return was on or before 31 March 2018. Latest Update Filing ITR for Previous YearsĪccording to the Finance Act 1987 amendment, you can file your belated IT return anytime on or before 1 year from the end of the relevant Assessment Year (AY).
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