Belated return u / s 139(4) can be filled at any time
Before the expire of relevant assessment year or before the assessment is complete, whichever is earlier
Understanding Belated Income Tax Returns
An income tax return is required to be filed by every person whose total income exceeds the basic exemption limit. There is a specific due date for filing the original return under Section 139(1) of the Income Tax Act.
If a taxpayer misses the original due date for filing their income tax return, they can still file a return, but it is considered a belated return. The provisions for filing a belated return are covered under Section 139(4) of the Income Tax Act.
Time Limit for Filing Belated Return u/s 139(4)
Section 139(4) specifies the time frame within which a belated return can be filed. According to this section, a person who has not filed a return within the time allowed under Section 139(1) (the original due date) may file the return at any time:
- Before the expiry of the relevant assessment year, or
- Before the completion of the assessment.
Whichever of these two events happens earlier is the deadline for filing a belated return under Section 139(4).
Let's break down the options provided in the question based on this understanding:
- Option 1: Before the expire of relevant assessment year - This is part of the condition, but not the complete condition.
- Option 2: Before the expire of one year from relevant assessment year - This statement is generally incorrect based on Section 139(4). Previous provisions might have allowed a longer period, but the current law under Section 139(4) links the deadline to the end of the assessment year or completion of assessment.
- Option 3: Before the expire of relevant assessment year or before the assessment is complete, whichever is earlier - This precisely matches the condition laid down in Section 139(4) for filing a belated return.
- Option 4: Before the expire of one year from the end of the relevant assessment year or before the assessment year, whichever is earlier - This option contains inaccuracies regarding the timeframe and uses "assessment year" where "assessment is complete" should be.
Therefore, the correct time limit for filing a belated return under Section 139(4) is before the end of the relevant assessment year or before the assessment is completed by the Income Tax Department, whichever happens sooner.
Belated Return Filing Deadlines Summary
| Type of Return | Relevant Section | Deadline |
|---|---|---|
| Original Return | 139(1) | Specified due dates (e.g., 31st July for individuals/non-auditable cases, 31st Oct/30th Nov for auditable cases) |
| Belated Return | 139(4) | Before the end of the relevant assessment year OR before the completion of assessment, whichever is earlier. |
| Revised Return | 139(5) | Before the end of the relevant assessment year OR before the completion of assessment, whichever is earlier. |
Revision Table: Key Income Tax Return Concepts
| Term | Description |
|---|---|
| Assessment Year | The year immediately following the financial year in which income earned in the financial year is assessed. |
| Financial Year | The year in which income is earned (1st April to 31st March). |
| Original Return | The initial return filed within the due date u/s 139(1). |
| Belated Return | A return filed after the due date u/s 139(1) but within the time limit u/s 139(4). |
| Revised Return | A return filed u/s 139(5) to correct errors or omissions in an original or belated return. |
Additional Information on Income Tax Return Filing
Filing a belated return under Section 139(4) has certain consequences compared to filing the original return by the due date:
- Interest under Section 234A for delay in filing is applicable from the original due date until the date of filing.
- Losses (except house property loss) cannot be carried forward to subsequent years if the return is filed belatedly.
- Certain deductions and exemptions might not be available (though recent amendments have removed some restrictions).
- A penalty under Section 234F might be applicable if the total income exceeds a certain limit.
It is always advisable to file the original return by the specified due date to avoid these consequences.
Important Questions from Income-tax
Tax audit is compulsory in the case of a person carrying on profession and whose gross receipts exceeds which one of the following?
Which are the appropriate tax planning perspectives in case of shutdown or continued decision under the Income Tax Act, of 1961?
A. Business loss and unabsorbed depreciation can be carried forward and set off against profit and gain.
B. The loss-making company and profit-making company may merge to avail of the tax benefit
C. Tax benefit of deduction u/s 33 AB and 115 VT may be withdrawn and liable to tax for the year in which the business is discontinued.
D. The condition of section 80 IB / 80 IC of the Act, a deduction is allowed for such undertaking
E. If a person has more than one business, the loss-making business may not be discontinued.
Choose the most appropriate answer from the options given below:
Which of the following is NOT a change of the new Income Tax bill introduced in the Parliament during February 2025?
What is the basic difference in the aggregates at market price and factor cost?
The ratio of income and expenditure is 9:5. Income increases by 40% and expenditure decreases by 10%. If the initial income is ₹45,000 then the final saving (in ₹) is:
