Due date for filing belated / revised ITR for the financial year 2021-22 is 31st December 2022

Certain specified people are required to file Income Tax Return (ITR) with the Tax Department every year within the due date specified in Section 139. If the due date for filing the original return is missed, the return can be filed after the due date, which is known as belated return. Also, if the original return is filed and any rectification is to be made in the originally filed return, it can be done through filing a revised return. The belated return and the revised return have to be filed within 31^st December of the Assessment Year. For the Financial Year, i.e. for the period from 01^st April 2021 to 31^st March 2022, the belated return or revised return has to be filed within 31^st December 2022. Once this deadline of 31^st December 2022 has crossed, the assessees will not be able to file the returns for the said period.

A late filing fee of Rs. 1,000 under section 234F needs to be paid for filing the belated return. If the total income of the assessee exceeds Rs. 5,00,000 then the late filing fee would be Rs. 5,000. Also, the applicable interest under section 234A, 234B and 234C needs to be paid on the taxable amount. It is also to be noted that carry forward of the losses (if any) for future adjustments is not available for filing belated return.

If there are any belated returns or revised returns to be filed for FY 2021-22, ensure that it is filed on or before 31^st December 2022 to comply with the provisions of the income tax act and avoid unnecessary hassles.

Hope the above compliances are taken care. If not, kindly take care of the same at the earliest. Kindly let us know for any assistance in this regard.