What happens when Income tax is filed after filing deadline?

I e-filed my 2009/10 (Assessment year 2010/11) tax return (ITR-1)on 18 April 2011. There is no balance due or refund on the return and my salary income was well below than 1,60,000. I just wanted to learn how to file a tax return so that I could do it myself for 2011/12 assessment year tax return. Please advice if I would be liable to any late filing penalty?

What happens when Income tax is filed after filing deadline?
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6 Replies to “What happens when Income tax is filed after filing deadline?”

  1. What happens if you miss the deadline of July 31st for filing your tax returns? Is there any penalty? If yes, how much is the penalty? Is there anything you can do to make this right?

    These are the questions troubling many of us who have not been able to file income tax returns by the due date of 31st July.

    Let’s understand what the implications of not filing the income tax return on time are, and the steps you can take to correct the situation.

  2. If you do not owe anything to the Income tax department, then it could be ok. But if you need any refund or if you need to be paying extra tax now, then there could be issues.
    But I think there are no issues as far as you are concerned. It is better to check with the income tax department directly.

  3. Rs. 5000 penalty may come. Its very rare. Actually you can file up to 31st March of next year. for Financial year 2009-10, your last date is 31st March 2011.

    Tulsi Gupta

  4. If your salary income was well below taxable limit then there is no need to file the return itself.

    If you meant that your “taxable income” (i.e. your salary income after eligible deductions and rebates) was below Rs.160,000 you should have filed the return before 31st march 2011.

    Any person who has not filed the return within the time allowed may file a belated return at any time within one year from the end of the relevant assessment year or before the completion of the assessment, which ever is earlier.

    However, you could file your return till March 31, 2012 but a penalty of Rs. 5000 could be levied. In your case you have filed it on April 18 (post March 31) and hence the penalty may be applicable.

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