How to File Belated Income Tax Return F.Y 2019-20?

Last Updated On: May 10, 2021, 10:02 p.m.



What is Belated IT Return?

If a taxpayer fails to submit his income tax return

1. On or before the due date mentioned under Section 139(1), or

2. If the income tax return is not filed before the due date and the income tax officer has issued a notice under section 142(1) directing the taxpayer to file his income tax return within the time specified in the notice and he has not even filed his return as required in the notice

he can still file his income tax return even after the due date. Such an income tax return filed after the due date is called Belated Return.


Deadline to file ITR

  • The deadline to file ITR for the financial year 2019-20 has been extended to January 10, 2021, from the earlier deadline of December 31, 2020.
  • In case if an individual was required to file the return and failed to do so, then not to worry and they have an option to file IT.
  • CBDT issues press release along with notification for extension of due dates for filing ITR under the Income- tax Act, 1961 for AY 2020-21 from 31st March 2021 to 31st May 2021.

Benefits of Filing

  • ITR on or before deadline Banks can ask for a copy of tax returns for Loan Approval (vehicle loan, House Loan etc.)
  • To Claim Income Tax Refund, you will have to file an ITR
  • You will be able to carry forward losses to subsequent years, which can be used to set off against income of subsequent years.
  • In order to Avoid Penalty.
  • Step-by-step guide to file ITR
  • Collect required documents : such as Form 16, salary slips, and interest certificates
  • Download and check Form 26AS.
  • Cross-check your TDS certificates with Form
  • Rectify the errors in Form 26AS, if
  • Compute total income for the financial Compute your tax liability.
  • Calculate final tax payable, if
  • File ITR (Original / Belated) (Refer next Slides).
  • E-verification
  • Department will process your return after


Disadvantages of Filing Belated ITR:

  • Taxpayer liable to pay TAX along Simple Interest (with 1% per month as per Sec 234A)
  • Late fee under Section 234F (Refer next slides)



Total Income Return filed Penalty
Exceeds Rs. 5 Lakh After 10th Jan 2021 for A.Y 2020-21 Rs.10,000/-
Upto 5 lakh

After 10th Jan 2021 for A.Y 2020-21




Copyright © 2019 - All Right Reserved