What is a Belated Income Tax Return: Know how to file - Tax Craft Hub

A Belated Income Tax Return is a tax return filed after the due date prescribed by the income tax authorities. Taxpayers who miss the original filing deadline can still submit their returns within a specified period, typically before the end of the relevant assessment year. However, filing a belated return may attract penalties and interest on any outstanding tax liabilities. Additionally, certain benefits, such as carrying forward losses or claiming specific deductions, might be restricted or disallowed. It's crucial for taxpayers to file their returns as soon as possible to minimize penalties and ensure compliance with tax regulations.

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