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How to file income tax return after due date
August, 05th 2017

If you are likely to miss even the extended deadline for filing income tax returns this year then you must be worried as to what can be done about it now.

Worry not. Here's the step by step guide on how you can file belated Income Tax Return (ITR).

The steps to file belated ITR are same as how ITR is filed before the deadline - which for FY 2016-17 is August 5, 2017.


The only difference is that instead of filing your ITR under section 139(1), you will be required to file ITR under section 139(4).

However, before you start filing your belated tax returns you must remember to check:

a) Which tax return form was applicable to you for the assessment year for which you want to file the belated return. The correct form for you depends on your sources of income. This is because income tax department has been notifying new ITR forms for every assessment year.

c) If there is any tax due (after deduction of advance tax and TDS), you will be required to pay a penal interest of 1% per month. If there is no tax due, no penal interest is required to be paid. Abhishek Soni, CEO, Tax2Win.in says, 'Even if you wish to file ITR after the due date, you can still avoid penal interest on the amount of tax payable by paying due amount before the due date.'

There are two ways to file your ITR - either using completely online method or downloading excel or java utility, filling it with the necessary details and then uploading it on the website.

Given below is the step wise guide to file your ITR completely online. This method can only be used by individual taxpayers who are eligible to file ITR using form 1 or 4 for AY 2017-18 (Form 1 and 4S up to AY 2016-17)

Step 2: Click on the 'Login Here' and you will be required to enter few details. Enter details such as - User ID (your PAN), password, Date of birth and captcha code. Once you click 'Submit', you will be successfully logged in your account.

Step 3: Click on 'e-file' tab and select the 'Prepare and submit ITR online' option.

Step 4: Since you're filing your ITR after the expiry of deadline, you should be careful while selecting the relevant form and assessment year.

Step 5: Once you have entered above required details, you will be re-directed to the ITR form page.

Step 6: While filing up the ITR form, remember to select the correct option for 'Return filed under section ….' otherwise the tax return won't be accepted. Select the option, 'After Due date 139(4)'.

Step 7: It is advisable to check that all the information punched in by you is correct. You can check it by select 'Preview and Submit' option.

Step 8: After the final submission, you must not forget to verify your ITR. Your ITR wouldn't be considered valid until it is verified by you.

Step 9: There are 6 ways to verify your ITR. You can either e-verify your ITR using Aadhaar, Net-banking or OTP method. Alternatively ..

Step 10: Once income tax department receives your verified ITR, they will start the processing of your ITR. Once ITR is processed, you will be notified about the same via SMS and E-mail.

 

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