Belated ITR under Section 139(4): Applicability, Due Date, and Penalty

Missed the due date for filing ITR? You still have the option of filing the Income Tax Return under Section 139(4). In this blog, we will discuss the applicability and the consequences of filing the Belated ITR.

What is Belated Return u/s 139(4)?

If a taxpayer fails to file Income Tax Return before the due date, then as per Section 139(4), a Belated Return can be filed 3 months before the end of the relevant assessment year or before the completion of the assessment year, whichever is earlier.

A Belated Return, as the name suggests, is a late return that the taxpayer can file on missing the original deadline or the extended deadline.

Consequences of late filing of ITR

The following are the disadvantages of filing a belated return:

1. Loss (other than loss under the head “Income from house property”) cannot be carried
2. Levy of interest under section 234A.
3. Levy of fee under section 234F.
4. Exemptions under sections 10A, and 10B, are not available.
5. Deduction under Part C of Chapter VI-A shall not be available.

How to File Belated ITR?

Here is a step-by-step process of filing a Belated Return using Web-e-Tax,

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