FAQs – Late Filling of ITR, Refunds & Verification

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31 Aug 2019 is over and this used to be the remaining date to report Income Tax Returns for FY 2018-19. But what in case you neglected ITR submitting cut-off date? Late filling of ITR is a significant blunder and let’s see how this can also be tackled?

Also, in case you have stuffed, your look ahead to verification of ITR, revision & Refunds has began.

Here is a FAQ in case you neglected filling returns or in case you made mistake within the ITR or dealing with refund-related or different issues like revision & verification of ITR or revising ITR.

Q: What occurs in case you leave out the ITR submitting cut-off date?

Ans: Till just lately (AY 2017-18) there used to be nil penalty for submitting past due source of revenue tax returns. But now there’s a penalty of as much as Rs 10,000 for Late Filing of ITR. This is as in keeping with Sec 234F of Income Tax Act.


  • The penalty shall be Rs 5000 if the tax go back for the monetary yr 2018-19 is filed after the go back submitting cut-off date (i.e., Aug 31, 2019) however sooner than December 31, 2019.
  • This will building up to Rs 10,000, if the tax go back is filed on or after January 1, 2019.
  • In case the Total Income is not up to Rs Five Lakhs, the penalty won’t exceed Rs 1000 in the end.
  • Also, if there may be unpaid tax, the penal passion can be charged at the due tax.

Q: So do I lose the rest (except a penalty) because of Late Filing of ITR?

Ans: Yes, for past due returns you can not declare losses beneath any head of source of revenue except for one – Loss on House Property (Interest on Housing Loan). You know the losses can be utilized to prompt for the following eight years achieve. So you’ll lose out this sort of alternative in case you report past due returns.

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Q: How to report a Late Return?

Ans: Same method Online. This time you may have to choose “Return filed under section 139(4)”.

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Q: Can a Belated Return be revised?

Ans: Yes. It is permitted till the top of that monetary yr. So until 31 March 2019, the belated returns can also be revised or changed.

Q: What is the cut-off date of revising the ITR?

Ans: The cut-off date to revise ITR is outlined beneath Section 139(Five). It states that:

One can furnish a revised go back any time sooner than the top of the related evaluate yr or sooner than the final touch of the evaluate, whichever is previous.

Assessment yr is the yr in an instant following the monetary yr for which the go back is filed.

So for the FY 2018-19, the cut-off date shall be 31 March 2021. This is sort of 2 years of time.

Q: How again and again an ITR can also be revised?

Ans: No Limit. You can revise any quantity of occasions.

Q How can I check my ITR?faqs late filling of itr refunds verification - FAQs – Late Filling of ITR, Refunds & Verification

Ans: One will get 120 days to ensure the ITR.

There are 6 techniques to ensure ITR. Five of those are on-line & 6th is offline. These are indexed right here:


The absolute best 2 techniques are:

If your Aadhar is connected, you'll be able to check the usage of OTP.

Take a printout, signal and ship to the deal with discussed within the ITR acknowledgment. Send through commonplace publish or velocity publish simplest. Do now not ship through courier services and products.

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Q: What if omit to Verify ITR?

Ans: As you get 120 days, the IT division will ship you reminder emails and SMS to ensure. But in case leave out the 120 day length, the go back shall be handled as invalid and you want to report it once more through paying the penalty as discussed above.

In case you may have a real reason why for now not verifying it you'll be able to report a request. This is known as a “condonation delay request”. This request may be on-line and tax government would possibly grant you additional time.

1567576808 875 faqs late filling of itr refunds verification - FAQs – Late Filling of ITR, Refunds & VerificationQ: How a lot time it takes for the IT refund?

Ans: If your ITR is authorised, you'll obtain an SMS and e mail beneath Sec 143 (1). After this, it should take 7-21 days for the refund to hit your checking account. So one of the simplest ways is to report on or sooner than time, check it, and get a reimbursement quickly.

Q: How to test IT refund standing?

Ans: You can test on-line the usage of the IT site login. Against each Year ITR Acknowledgement, there may be data referring to fee or pending refunds.

One too can test it on TIN NSDL Website the usage of his PAN. The hyperlink for the site: https://tin.tin.nsdl.com/oltas/refundstatuslogin.html

You might also touch CPC at 1800 180 1961 / 1800 1034455 / +91 80 46605200. Email: [email protected]

Q: How lengthy must one stay Income Tax Documents & data?

Ans: It is prescribed that it's a must to stay data for remaining 7 monetary years. It isn't beneficial through source of revenue tax without delay however they have got discussed not directly through announcing that an assessee can also be requested or scrutinize for remaining 7 years data.

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In case one has belongings in any overseas nation or industry out of the country this period of time is 17 years.

We suggest you to stay them without end in bodily or virtual shape.

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