How to file ITR after tax return filing deadline is over

“Every taxpayer is required to file his/her return within the prescribed time limit under section 139. But, in case they are not able to file the belated return resulting in inability to claim refund, exemption, or carry forward of losses this is applicable. Hence, section 119(2)(b) acts as a remedy for the taxpayers to get their claims admitted,” Yeeshu Sehgal, Head of Tax Markets, AKM Global told CNBC-TV18.com.

These claims will only be allowed by the income tax authority provided, making such a claim within the prescribed due date was genuinely out of the control of the taxpayer or there was some genuine reason due to some external factors.

After filing the application for refund or carry forward of losses, the tax officer may make necessary inquiries to ascertain the correctness of the claims, Sehgal told CNBC-TV18.com.

Applications for claim of refund can be accepted beyond the due date according to Section 119. However, certain guidelines for accepting or rejecting these applications have been set out by the CBDT.

The table below shows monetary limit of the claim made and the income tax authority empowered to deal with it.

It's important to note that the belated return is required to be filed before three months prior to the end of the relevant assessment year, which is December 31, 2022 for FY 21-22. However, the taxpayer could make an application under section 119 (2) (b) only if all the specified time limits prescribed under income tax act for filing the tax return have lapsed including the due date of the belated return.

The taxpayers have to file an application for making a claim of refund or carry forward of loss within the next six years from the end of the assessment year under this section. Further, the authorities should accept and close or reject such cases within six months from the end of the month in which they received the application, according to Clear.