ITR Filing: The deadline for filing Income Tax Return (ITR) is 31 July 2024. If you could not file ITR for any reason, then what now? Do you still have any option to file ITR? Yes, you have the option to file ITR even after the deadline is over. Even after missing the initial deadline, you can pay your required tax by submitting the necessary documents.
Freedom to file returns till 31 December
Let us tell you that you may have to pay some penalty for filing the return late. Therefore, to avoid any kind of trouble, you are advised by the experts to complete this process soon. The last date for filing belated income tax return (Blated ITR) is December 31 every year. If you have not filed your tax for the financial year 2023-24, then you have time till December 31, 2024 to submit the belated tax return.
What is a belated return?
Filing a late return is called a belated return in income tax parlance. This means that you are submitting your income tax return after the original date of July 31. Such a return is filed under section 139(4) of the Income Tax Act, 1961.