Missed Dec 31 ITR deadline? Apply for condonation of delay at the earliest

Taxpayers may file an updated return after April 1

December 31 signified more than the end of 2023; it was also the final day for submitting belated or revised income-tax returns (ITRs) for those who had missed the earlier deadline.

“Assessees who missed the July 31 deadline for filing the original ITR for FY 2022–23 (assessment year 2023–24) or sought to amend their initial filing had a remedy available. They could have submitted a belated ITR or revised return for FY 2022–23 by December 31, 2023. This extension provides assessees with an opportunity to rectify any omissions or inaccuracies, or make changes to their initial ITR submission,” says Maneet