ITR Filing: Step-By-Step Guide To File Belated Income Tax Return

While the last date to file your Income tax returns (ITR) for Assessment Year 2023-24 is July 31, 2023, individuals can still file revised returns. The last date to file the revised ITR for the FY 2022-23 (AY 2023-24) is December 31, 2023.

When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted, the same can be corrected by filing a revised return in the eFiling portal. A Revised Return can be filed at any time before the end of the relevant Assessment Year (AY) or before the completion of the assessment, whichever is earlier.

Following are the steps to file the Revised Return Online:

1. Go to the Income Tax e-Filing portal, www.incometaxindiaefiling.gov.in
2. Login to the e-filing portal by entering your user ID (PAN), Password, and Captcha code and click 'Login'.
3. Click on the 'e-File' menu and click the 'Income Tax Return' link.
4. On Income Tax Return Page:
• Your PAN will be auto-populated
• Select 'Assessment Year'
• Select 'ITR form Number'
• Select 'Filing Type' as 'Original/Revised Return'
• Select 'Submission Mode' as 'Prepare and Submit Online'
5. In the Online ITR Form under the 'General Information' Tab, Choose the 'Return Filing Section' as 'Revised return under section 139(5)' and 'Return filing type' as 'Revised'.
6. Enter the 'Acknowledgement Number' and 'Date of filing' of the Original Return filed.
7. Fill or correct the relevant details of the online ITR form and submit the ITR.
8. e-Verify the returns for faster processing and quicker refunds or Send the ITR-V through normal or speed post to "Centralized Processing Center, Income Tax Department, Bangaluru-560500".

How to verify the revised ITR?

E-verification is the most convenient and instant way to verify ITR. I-T Department offers five platforms to verify an ITR - net banking, bank ATM, Aadhaar, bank account, and demat account.

Can a return be filed after the due date?

Return of income that has not been furnished on or before the due date specified under section 139(1) is called a belated return. Belated return of income is furnished under section 139(4).

Any person who has not furnished a return of income within the time period allowed under section 139(1) or within the time period allowed under a notice issued under section 142(1), may furnish a return for any previous year
- at any time 3 months before the end of the relevant assessment year or before completion of the assessment, whichever is earlier.

However, a belated return attracts late filing fees under section 234F.

As per section 234F, late filing fees of Rs.5,000 shall be payable if the return is furnished after the due date specified under section 139(1). However, the amount of late filing fees to be paid shall be Rs.1,000, if the total income of the person does not exceed Rs.5 lakhs.