What to Do if You Missed Filing Your ITR This Year
Missed the ITR deadline? You can still file your return, claim refunds, and avoid penalties. Here’s what to do step-by-step.
Life gets busy — and sometimes, we miss deadlines.
If you forgot to file your Income Tax Return (ITR) before the due date (usually 31st July), don’t panic.
You still have options. And in many cases, you can fix things without paying huge penalties.
Here’s exactly what to do if you missed your ITR this year — explained in plain language.
📆 First: Understand the Deadlines
| Type of Return | Last Date (FY 2023–24) |
|---|---|
| Regular ITR | 31st July 2024 |
| Belated Return | 31st December 2024 |
| Revised Return | 31st December 2024 |
If you missed the July 31 deadline, you can still file a belated return — but with a small penalty.
❓ What Is a Belated Return?
A belated return is simply a late-filed ITR.
✅ You can still:
- File your income details
- Claim TDS refunds
- Declare investments
- Avoid serious penalties
But...
❌ You may:
- Have to pay a late filing fee
- Miss out on some deductions (e.g., losses carried forward)
💸 What’s the Penalty for Late Filing?
Under Section 234F:
| Total Income | Penalty |
|---|---|
| Below ₹5 lakh | ₹1,000 max |
| Above ₹5 lakh | ₹5,000 max |
You also pay interest on tax dues (if any) under Section 234A.
✅ If you had no tax payable, the penalty is often minimal or zero.
💻 How to File a Belated Return (DIY):
- Go to https://www.incometax.gov.in
- Login → e-File → Income Tax Return
- Choose:
- Assessment Year: 2024–25
- Filing type: Belated
- Fill in income, deductions, and tax paid
- Submit → e-verify (via Aadhaar OTP, net banking, etc.)
✅ Done!
🧾 Can I Still Get My Refund?
Yes! If TDS was deducted from your salary or freelance income, you can still claim it via belated ITR.
🔁 Refunds take 10–45 days after filing.
🔁 What If I Already Filed, But Made a Mistake?
You can file a Revised Return before 31st Dec 2024.
Use it to:
- Correct any errors
- Add missed incomes or deductions
- Fix bank/account details
❗ Consequences If You Don’t File at All
- You can’t carry forward losses (e.g., stock trading, business)
- You may get a notice or penalty from IT Dept
- It affects your loan eligibility, visa, or creditworthiness
✅ Final Checklist
- Missed filing? Don’t wait — file a belated return
- Use Form 26AS to match TDS & income
- E-verify your return within 30 days
- Save the acknowledgement (ITR-V)
📢 Bonus Download:
Belated ITR Filing Checklist – A free, printable guide with links and deadlines.
👉 Subscribe to Bitveen to get it now!
This post is for educational purposes only and should not be considered financial advice.
Bitveen Admin