Belated ITR: The deadline for filing a belated ITR is very close. The last date for filing a belated ITR is December 31, 2024. With the year’s end, the belated ITR deadline will also be over. If you do not pay tax on time, you may have to pay a fine of up to Rs 10,000.
Know what is belated return?
Taxpayers can file late returns, which are called belated returns. A belated return has to be filed under section 139(4) of the Income Tax Act. The last date for filing income tax returns for the financial year 2023-24 was July 31, 2024. According to section 139(4) of the Income Tax Act, this provision allows taxpayers who have not filed taxes on time to be allowed to do so.
Why is it necessary to file a belated return?
Filing returns is a legal requirement. If you do not file returns, you may face legal problems. Those who do not file returns may get a notice from the Income Tax Department and must pay a fine. Following tax laws gives you mental peace. Therefore, filing a belated return will be best for you.
If you file your return after the regular deadline, you must pay a fine of Rs 5,000. Apart from this, if your total income is less than Rs 5 lakh, this fine will be reduced to Rs 1,000.
How to file a belated return
First, go to the income tax department’s e-filing website. Log in with the help of PAN.
Now select AY 2024-25 and the ITR form.
Now, fill in the required information.
Pay tax
Finally, confirm the return through Aadhaar OTP and net banking and submit it.
Priyanka Singh
Priyanka Singh is an experienced journalist and Chief Copy Editor at Timesbull.com with more than six years of experience in digital media. She currently leads the Entertainment, Business, and Education desks, ensuring accuracy, clarity, and editorial excellence across content. Originally from Bihar, she brings strong subject understanding to her reporting....
