What is the story about?
The last date for filing income tax returns (ITR) for the financial year 2024-25 (assessment year 2025-26) was September 16. Many taxpayers faced issues during the final days of filing due to slow portal speeds and technical glitches, leading the government to extend the deadline from September 15 to September 16.
According to the Income Tax Department, as of September 16:
Filing a belated return: What you need to know
Missing the ITR deadline does not prevent you from filing. Taxpayers can still submit a belated return under the Income Tax Act.
Filing a belated return allows individuals to report their income and pay any tax due, though penalties and interest may apply.
Key points about belated returns:
How to file a belated ITR
Filing a belated ITR is similar to filing a regular ITR, but you must select “Belated Return” while submitting online. Here’s a step-by-step guide:
Experts recommend filing belated returns as soon as possible to minimise penalties and interest.
According to the Income Tax Department, as of September 16:
- 13.43 crore individual users registered on the portal
- 6.51 crore returns verified
- 7.53 crore returns filed
- 4.01 crore verified ITRs processed
Filing a belated return: What you need to know
Missing the ITR deadline does not prevent you from filing. Taxpayers can still submit a belated return under the Income Tax Act.
Filing a belated return allows individuals to report their income and pay any tax due, though penalties and interest may apply.
Key points about belated returns:
- You can file a belated return up to December 31 of the assessment year (for AY 2025-26, that is December 31, 2025).
- Late filing may attract a penalty of up to ₹5,000 under Section 234F.
- Interest is charged on any unpaid tax under Sections 234A, 234B, and 234C.
- Filing is essential if you wish to carry forward losses or avoid complications in loans, visas, and financial transactions.
How to file a belated ITR
Filing a belated ITR is similar to filing a regular ITR, but you must select “Belated Return” while submitting online. Here’s a step-by-step guide:
- Log in to the Income Tax Portal using your PAN and password.
- Navigate to e-File > Income Tax Return.
- Select the Assessment Year (AY 2025-26).
- Choose the ITR form applicable to your income type.
- Tick the “Belated Return” option.
- Fill in your income details, deductions, and tax paid.
- Verify your tax computation and submit the ITR.
- Verify your ITR using Aadhaar OTP, net banking, or by sending a signed ITR-V to CPC, Bangalore.
Experts recommend filing belated returns as soon as possible to minimise penalties and interest.
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