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How to file Belated Return u/s 139(4)?

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Hiral Vakil

Belated ITR
Income Tax Account
ITR Form
ITR Utility
Sec 139(4)
Last updated on April 7th, 2021

Belated Return is the return the taxpayer shall file after the due date u/s 139(4). Belated return can be filed in the following ways:

As per Budget 2021, the due date to file belated, revised ITR will be December 31 of the assessment year instead of March 31 of the assessment year.
Tip
As per Budget 2021, the due date to file belated, revised ITR will be December 31 of the assessment year instead of March 31 of the assessment year.

File Belated Return from Login on Income Tax Website

  1. Login to your account on the income tax e-filing website.

    Enter user ID (PAN), Password, Captcha Code and click on ‘Login’ on the income tax efiling website.Income Tax e-Filing Portal - Homepage

  2. Navigate to the dashboard

    Click on Filing of Income Tax Return. how to file belated return_IT Website_Click on Filing of Income Tax Return

  3. Enter Assessment Year, ITR Form Number, Filing Type and Submission Mode.

    Click on Continue.how to file belated return_IT Website_Select ITR Details

  4. Go to Part A General Information. Check all the basic details. You can edit the same as well

    Select 139(4) Belated from Filed u/s dropdown while preparing ITR.how to file belated return_IT Website_Enter Details

  5. Enter details of Income and Deduction under the correct tab.

    Click on Preview & Submit. Verify all the data entered in the ITR and Click on Submit. Don’t forget to e-Verify your ITR.

ITR will be processed after e-verification is done. So Don't forget to e-verify ITR.
Tip
ITR will be processed after e-verification is done. So Don't forget to e-verify ITR.

File Belated Return Using ITR Preparation Utility

how to file belated return_ITR Utility_Go to Download ITR Uitility
how to file belated return_IT Website_Download Utility
how to file belated return_IT Website_Click on Filing of Income Tax Return
how to file belated return_IT Website_Enter ITR Details
Track Your ITR Status
Check your Income Tax Return Status using the PAN and Acknowledgment number - which is allocated by the Income Tax Department after filing your ITR.
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Track Your ITR Status
Check your Income Tax Return Status using the PAN and Acknowledgment number - which is allocated by the Income Tax Department after filing your ITR.
Explore

FAQs

Is there any penalty for Belated Return?

Yes. Penalty up to Rs. 10,000 is levied on taxpayer u/s 234F. However, no penalty is levied if the gross total income of a taxpayer is below Rs. 2,50,000.

Can a belated return of income filed u/s 139(4) be revised?

Yes, ITRs from FY 16-17 falling under Section 139(4) can be revised if they are applicable for Belated Tax Returns. However, earlier filed belated returns cannot be revised.

What is meant by a Belated Return?

If an Assessee fails to file his/her return in the prescribed timeline mandated in the Income Tax Act but files it after the due date has passed is referred to as a “Belated Return”. The due date for filing a Belated Return is during or before the end of the relevant Assessment Year.

Got Questions? Ask Away!

  1. Hey @TeamQuicko

    Can I file a revised return even after I have received a refund?

  2. Hey @HarshitShah

    Yes, you can revise your return and carry forward the trading losses even if ITR is processed and refund is received.

    Hope this helps!

  3. Hey @HarishMehta

    Yes, ITR is mandatory to file when you had done transactions in the respective financial year. If there are losses, you don’t have to pay Income Tax, but transactions have to be reported in ITR.

  4. Hey Team, do I need to e-verify Belated Return??

  5. Hey @TanyaChopra

    Yes, you need to e-verify the Belated Return filed after the due date. It will not be processed by the IT Department unless it is e-verified.

    You can refer to the below article to understand how to file and e-verify Belated ITR.

    Do let us know in case you have any further queries!

  6. Hey Team, good day!

    What are the consequences if I do not show Trading Transactions in ITR?

    Thanks in advance!

  7. Hello, So if I file a revised return, I’ll be eligible to carry forwarding losses. When can i set them off. and also if are any other benefits I am not aware off?
    I am new to filing returns hence such basic questions. :sweat_smile:

  8. Hey @Niraj,

    Carry forwarded losses can save you from paying heavy taxes in the future. For eg. If you fall in the 30% tax bracket, for every profit you make in the derivative market, 30% is the tax rate. Instead, if you have carry-forward losses from previous years, you have to pay tax only on the balance amount after the set-off of losses.

  9. Can I carry forward trading losses in case of a revised return?

  10. Hi @Joe_Fernandes,

    Yes, losses can be carried forward for a specific period as mentioned in the Income Tax Act, in case you have filed an original return within the due date.

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