{"id":27134,"date":"2024-08-03T00:03:11","date_gmt":"2024-08-02T18:33:11","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=27134"},"modified":"2025-01-01T08:08:37","modified_gmt":"2025-01-01T02:38:37","slug":"late-or-belated-itr-filing","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/late-or-belated-itr-filing\/","title":{"rendered":"Penalties for late or belated ITR filing for AY 2024-25"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d6199cef9dd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d6199cef9dd\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/late-or-belated-itr-filing\/#What_is_the_Income_tax_Penalties_for_late_or_belated_ITR_filing_for_AY_2024-25\" title=\"What is the Income tax Penalties for late or belated ITR filing for AY 2024-25?\">What is the Income tax Penalties for late or belated ITR filing for AY 2024-25?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/late-or-belated-itr-filing\/#Steps_by_Step_Process_to_File_a_Belated_Income_Tax_Returns_for_AY_2024-2025\" title=\"Steps by Step Process to File a Belated Income Tax Returns for AY 2024-2025:\">Steps by Step Process to File a Belated Income Tax Returns for AY 2024-2025:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/late-or-belated-itr-filing\/#What_is_Consequences_when_we_missed_ITR_filing_on_timeline\" title=\"What is Consequences when we missed ITR filing on timeline ?\">What is Consequences when we missed ITR filing on timeline ?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/late-or-belated-itr-filing\/#CBDT_extends_last_date_for_filing_Income_Tax_Return_for_AY_24-25_from_31st_December_2024_to_15th_January_2025\" title=\"CBDT extends last date for filing Income Tax Return for AY 24-25 from 31st December, 2024 to 15th January 2025.\">CBDT extends last date for filing Income Tax Return for AY 24-25 from 31st December, 2024 to 15th January 2025.<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-26896\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.-.jpg\" alt=\"Penalty for Late Filing of Income Tax Return.\" width=\"1080\" height=\"899\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.-.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--300x250.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--1024x852.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--768x639.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/01\/ITR-penality.--800x666.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_Income_tax_Penalties_for_late_or_belated_ITR_filing_for_AY_2024-25\"><\/span><span style=\"color: #000080;\"><strong>What is the Income tax Penalties for late or belated ITR filing for AY 2024-25?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Taxpayer may please note there will be NO EXTENSION in ITR Filing this time. Kindly file your ITR up to 31 July 2024 for AY 2024-25 to avoid any late fee and penalty.<\/p>\n<p>The last date for filing an ITR for the FY 2023-24 was July 31, &amp; since the I T Dept did not extend this ITR deadline,\u00a0 Income Taxpayers who missed it will have to file a belated\u00a0<span style=\"color: #000080;\"><strong>Income Tax Returns <\/strong><\/span>Return by Dec 31, 2024, incurring penalties. According to section 139 (4) of the Income Tax Act, an ITR filed after the July 31 deadline is considered a belated return. Failure to file on time can lead to penalties, fines, and potential audits from the IT department.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Steps_by_Step_Process_to_File_a_Belated_Income_Tax_Returns_for_AY_2024-2025\"><\/span><span style=\"color: #000080;\"><strong>Steps by Step Process to File a Belated Income Tax Returns for AY 2024-2025<\/strong>:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Log into your account on the Income tax dept\u00a0e-filing portal.<\/li>\n<li>Navigate to Income tax dept \u2018e-File\u2019, choose \u2018Income Tax Returns\u2019, &amp; select \u2018File ITR Return\u2019.<\/li>\n<li>Select AY 2024-25.<\/li>\n<li>Choose mode of filing as \u2018Online\u2019 at Income tax dept\u00a0 e-File portal.<\/li>\n<li>Click on the \u2018Start New Filing\u2019 button.<\/li>\n<li>Select the applicable status (e.g., individual, HUF, etc.).<\/li>\n<li>Select the applicable Income Tax Returns form.<\/li>\n<li>Go to the \u2018Personal Information\u2019 section and ensure all your personal details are correct.<\/li>\n<li>In the filing section, select section 139(4) for belated returns.<\/li>\n<li>Fill in all your income details under various source heads and proceed to make the tax payment.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27145\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/Tax-guidence.jpg\" alt=\"tax guidance for itr filing\" width=\"1080\" height=\"1265\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/Tax-guidence.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/Tax-guidence-256x300.jpg 256w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/Tax-guidence-874x1024.jpg 874w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/Tax-guidence-768x900.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/Tax-guidence-800x937.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Consequences_when_we_missed_ITR_filing_on_timeline\"><\/span><span style=\"color: #000080;\">What is Consequences when we missed ITR filing on timeline ?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27149\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now.jpg\" alt=\"File your ITR now\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now.jpg 1080w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now-300x300.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now-1024x1024.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now-150x150.jpg 150w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now-768x768.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/File-your-ITR-now-800x800.jpg 800w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"a1a277b6-1a12-40cd-99fb-d4e58f2e3b0d\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p><span style=\"color: #000000;\">When an individual misses the deadline for filing an Income Tax Return, they face several consequences in addition to penalties:<\/span><\/p>\n<ol>\n<li><span style=\"color: #000000;\"><strong>Automatic Shift to the New Tax Regime<\/strong>: Taxpayers lose the option to choose between the new and old tax regimes. They are automatically shifted to the new tax regime, which lacks many deductions and offers limited exemptions compared to the old tax regime.\u00a0You cannot file your <strong>Income Tax Returns<\/strong>\u00a0under Old Regime of Taxation<\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>Limited Exemptions and Deductions<\/strong>: Under the new tax regime, taxpayers cannot claim various deductions and exemptions that were available under the old tax regime, potentially resulting in a higher tax liability.<\/span><\/li>\n<li><span style=\"color: #000000;\">Filing a belated return also means you might miss out on certain benefits, such as carrying forward some losses. Losses, if any, cannot be carried forward if <strong>Income Tax Returns<\/strong>\u00a0filed after due date under Section 139(1)<\/span><\/li>\n<li><span style=\"color: #000000;\">For Assessment Year (AY) 2024-25, the penalties for late or belated ITR filing are as follows:\u00a0 <strong>Penalty Amount on Belated Income Tax Returns for AY 2024-2025 <\/strong>: Late Fee is payable if <strong>Income Tax Returns <\/strong>Filed after due date under Section 139(1)<\/span>\n<ul>\n<li><span style=\"color: #000000;\">If your annual income is more than INR 5,00,000\/- : Penalty of \u20b95,000.<\/span><\/li>\n<li><span style=\"color: #000000;\">If your annual income is less than INR 5,00,000\/- : Penalty of \u20b91,000.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><span style=\"color: #000000;\">These disadvantages are in addition to the penalties &amp; fines that come with filing a belated return, So, it is advisable to file your <strong>Income Tax Returns<\/strong> within the original due date whenever possible. If you required any kind of further assistance with the belated filing process or have any specific questions, feel free to ask!<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"CBDT_extends_last_date_for_filing_Income_Tax_Return_for_AY_24-25_from_31st_December_2024_to_15th_January_2025\"><\/span><span style=\"color: #000080;\"><strong>CBDT extends last date for filing Income Tax Return for AY 24-25 from 31st December, 2024 to 15th January 2025.<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-28133\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/photo_2025-01-01_08-06-51.jpg\" alt=\"CBDT extends last date for filing Income Tax Return for AY 24-25 from 31st December, 2024 to 15th January 2025. \" width=\"1036\" height=\"644\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/photo_2025-01-01_08-06-51.jpg 1036w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/photo_2025-01-01_08-06-51-300x186.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/photo_2025-01-01_08-06-51-1024x637.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/photo_2025-01-01_08-06-51-768x477.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2024\/08\/photo_2025-01-01_08-06-51-800x497.jpg 800w\" sizes=\"(max-width: 1036px) 100vw, 1036px\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is the Income tax Penalties for late or belated ITR filing for AY 2024-25? Taxpayer may please note there will be NO EXTENSION in ITR Filing this time. Kindly file your ITR up to 31 July 2024 for AY 2024-25 to avoid any late fee and penalty. The last date for filing an ITR &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10055],"tags":[10173],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/27134"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=27134"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/27134\/revisions"}],"predecessor-version":[{"id":28134,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/27134\/revisions\/28134"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=27134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=27134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=27134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}