Missed the ITR deadline? Here's what you need to do next

Filing returns after the due date can have repercussions even if there are no pending liabilities

Filing income tax (I-T) returns on time is every taxpayer’s responsibility and there are several benefits extended to the individual for the same. On the other hand, filing returns after the due date can have repercussions for the taxpayer even if there are no pending tax liabilities. However, if you have missed the deadline, you can file a belated return.

What is a belated return?

A belated I-T return can be filed after the due date but before the end of the assessment year. Belated returns have to be filed within one year from the end of the relevant financial