What to Do If You Missed the ITR Deadline in FY 2024-25

Missed the ITR Deadline? Here’s How to Rectify It Legally

Missing the Income Tax Return (ITR) deadline in India for FY 2024-25 can be concerning, but don’t panic. The Income Tax Department provides mechanisms to help you stay compliant even after the due date (usually July 31 for individuals not subject to audit).

Step-by-Step Guide for Late Filers:

• File a Belated Return (Section 139(4)): If you missed the deadline, you can file a belated return on or before December 31, 2025. However, remember:
  • Late fee under Section 234F will apply: ₹1,000 (if income is below ₹5 lakh) or ₹5,000 (if income is above ₹5 lakh).
  • A belated return cannot be filed once the assessment year closes unless the department allows condonation of delay under special circumstances.
• Interest on Tax Due (Sections 234A, 234B, and 234C):
  • 234A: Applies if you have any unpaid tax liability at the time of filing.
  • 234B and 234C: Charged for non-payment or shortfall in advance tax. These apply especially if your tax liability exceeds ₹10,000.
• Loss Carry Forward Not Allowed: Losses under the head of capital gains, business, or speculation cannot be carried forward if the return is not filed on or before the original deadline.
• Revised Return Option (Section 139(5)): Even a belated return can be revised before December 31, 2025, if there are any errors or omissions.
• Avoid Getting a Notice: If you consistently miss deadlines or do not file, the department may issue a Notice under Section 142(1) (asking you to file a return) or Section 148 (for income escaping assessment).

Consequences of Not Filing at All:

• Penalty under Section 271F: Although this section has been removed for current assessment years, other interest and late fee provisions still apply.
• Prosecution under Section 276CC: If tax liability is above ₹10,000 and return is not filed, the Income Tax Department may initiate prosecution proceedings, with imprisonment ranging from 3 months to 7 years.

Benefits of Filing Even After the Deadline:

• Prevents Further Penalty: Filing a belated return, although late, limits your liability from further interest and penalties.
• Required for Financial Transactions: Proof of income via ITR is necessary for visa applications, loan approvals, property purchases, and government tenders.
• Enables TDS Refunds: If TDS has been deducted but your income is below the taxable limit, you must file the return to claim a refund.
• Serves as Proof of Income: Especially useful for self-employed individuals or freelancers who do not receive Form 16.

Condonation of Delay – Last Resort Option

If you have missed even the belated return deadline (December 31, 2025), you can apply for condonation of delay under Section 119(2)(b) to the Principal Commissioner of Income Tax. This is usually allowed in genuine hardship cases like severe illness, technical error, or natural calamity, and especially when a refund or carry forward of loss is involved.

Pro Tips:

• Use the AIS (Annual Information Statement) and Form 26AS to verify all your financial data, TDS credits, interest, and other income.
• Even if your income is below ₹2.5 lakh (basic exemption limit), file the return for record-keeping and continuity.
• Register for email/SMS alerts from the Income Tax portal to stay notified of due dates.
• Use the e-verify feature within 30 days of filing the return to validate it and avoid rejection.

Final Thoughts:

The Indian Income Tax Act provides reasonable opportunities for late filers through belated and revised return provisions. However, repeated non-compliance may raise scrutiny and cause long-term complications. Filing early ensures peace of mind, better planning, and access to financial benefits.

Use the official e-filing portal www.incometax.gov.in or consult a tax expert to ensure proper filing based on your income category and deductions claimed.

Compliance:

• File GSTR-1 and GSTR-3B accurately every month or quarter.
• Reconcile Input Tax Credit monthly to ensure accurate filing.

If income is below the taxable limit, you’re not liable to pay the penalty, but it is still good practice to file for record.

Keep track of tax calendar notifications issued by the CBDT.