What if You DO NOT file your Returns by due Date of July 31, 2019?

The due date for filing income tax returns for individuals is July 31, 2019Most taxpayers may be preparing and be in process of filing their tax returns. However there are people who may not be able to file their returns before due date or are too lazy to file their returns. The question is what happens if you do not file your returns before due date?

Budget 2017 had introduced a new section 234F applicable from AY 2018-19 on wards. According to which:

  • you will have to pay penalty of Rs 5,000 if the returns are not filed by due date but before December 31.
  • In case there is further delay the penalty would be Rs 10,000.
  • However, in case the total income is less than Rs 5 lakh, the penalty should not exceed Rs 1,000.
Penalty for Late Filing of Income Tax Return
Penalty for Late Filing of Income Tax Return

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Here are some posts which can help you with e-filing of ITR 2019:

1. 9 Most Important Changes in ITR Forms for AY 2019-20

2. Calculate your Tax liability for FY 2018-19 (AY 2019-20)

3. Download 44 page slideshow showing all tax exemptions

4. Which ITR form to fill for Tax Returns for AY 2019-20?

5. How to Claim Tax Exemptions while filing ITR?

6. Use Challan 280 to Pay Self Assessment Tax Online

7. Form 26AS – Verify Before Filing Tax Return

8. 5 Ways to e-Verify your Income Tax Returns

9. What if You DO NOT file your Returns by due Date?

10. Can I file my Last Year Tax Return?

11. Why and How to Revise Your Tax Return?

12. What does Intimation U/S 143(1) of Income Tax Act mean?

13. What happens after you file your ITR?


In addition to the penalty you loose on various other benefits as well. We have listed them below for you.

Impact of late filing of tax return:

1% Monthly Late payment fee on tax due: In case after adding up all the TDS, advance taxes or self-assessment tax, if there is any tax payable from your side, you will need to pay monthly 1% late fee on the amount due for each month of delay.

Late refund: if you file your ITR late, you will also get your excess tax paid refunded late. This is a loss as you could have put to the money to better use and you obviously loose on the interest part.

Cannot carry forward your losses: you cannot carry forward following losses in case of delayed filing:

  • Speculation loss,
  • business loss excluding loss due to un-absorbed depreciation and capital expenditure on scientific research,
  • short term capital loss,
  • long term capital loss,
  • loss due to owning and maintenance of horse races
  • However you can still carry forward loss from House property.

A lot of publications are reporting that you cannot revise your returns in case the ITR is filed after due date. This is NOT true and Budget 2016 has changed this. Starting this year you can revise your belated returns.

Budget 2016 has also limited the time period for filing your tax returns. Starting FY 2016-17 (AY 2017-18) you would not be able to file your returns after the end of assessment year. This means you cannot file your returns for FY 2018-19 (AY 2019-20) after March 31, 2020 without intervention from income tax department.

Download: Ultimate Tax Saving ebook with tax calculator FY 2019-20

What if you don’t file AY 2019-20 return even by March 31, 2020?

In case you miss the March 31, 2020 deadline then you would not be able to file your returns without I-T Department intervention. Also, the tax officer has to do your tax assessment based on best information he has resulting in increased tax liability.

So stop being lazy and file your income tax returns before due date even if you have NO tax dues and have peace of mind. It’s easy to do and out tutorials on the same would help you with the same!

1 thought on “What if You DO NOT file your Returns by due Date of July 31, 2019?”

  1. Col K Mohandas (Retd)

    I filed my IT Return for AY2018-19 o0n 03 Jun2018. Acacnowledeged and processing complted on 20.6.2018. Intimation under Sec 143(1) rceived for a Refund, There was a mistake inthe figures appearing on the TDS figures by Bank and therefore I got it checked and the correcte Form 26 was found on the Itsite. Raised a query with IT dep on Enivaran and Iwas advissed to file Rvised Return. accordingly Revisded Retern submitted on 01 Jul 2018. E verified on 01 Jul 2018 and Everification accepted on 05 Jul 2018. But thereafter I have received no intimation under Sec 143(1).
    Does it take that long?

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