Late filing fee for Income tax return in India

If you are taxable in India, then your income tax return must be filed on or before the due date of filing i.e. 31st July of the following financial year.

In case you missed it, you can still file your ITR on or before the end of the assessment year. However, in such type of cases you will be required to pay late filing fee based on your total income for that financial year.

With effect from financial year 2017-18, following late filing fee is applicable for filing the ITR after the due date.

Late Filing Fee Details for Financial year 2019-20
E-filing DateWhen total income is below Rs. 5,00,000When total income is above Rs. 5,00,000
Up to Due date of filingNILNIL
Between 1st September to 31st DecemberRs. 1,000Rs. 5,000
Between 1st January to 31st MarchRs. 1,000Rs. 10,000

For financial year 2019-20, a late filing fee of Rs 1,000 will be paid if your total income is below Rs 5 Lakhs and you have filed your tax return after 31st July 2020 but on or before 31st March 2021.

If total income is above Rs. 5, 00,000, Rs 5000 has to be paid as late filing fee if ITR has been filed in between 1st September 2020 to 31st December 2020. Additional late filing of Rs 5,000 will be paid if the date of filing is in between 1st January 2021 to 31st March 2021.

After 31st March 2021, you will not be allowed to file your income tax return for the financial year 2019-20.

For the financial year 2019-20, ministry of finance may extended the due date of filing income tax return from 31st July 2018 to another day based on practical difficulties or due to some other issue. Otherwise, due date of filing will always be 31st July of the assessment year. You are requested to re-visit this article to get update on extension of due dates for filing income tax return.

Assessment year is the year immediately following the previous financial year for which return of income has to be filed. Financial year starts from 1st April of each year and ends on 31st march of the next year. This means for assessment year 2020-21, you file return of income for financial year 2019-20. Financial year 2019-20 starts from 1st April 2019 and ends on 31st march 2020.

However, in case of any mistake, you can revise your return on or before 31st March of the following financial year without paying any late filing fee. Earlier, it was allowed to file your revised return within 2 years from the end of the financial year, now it has been reduced to one year.

is a fellow member of the Institute of Chartered Accountants of India. He lives in Bhubaneswar, India. He writes about personal finance, income tax, goods and services tax (GST), company law and other topics on finance. Follow him on facebook or instagram or twitter.