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Missed the ITR-2 due date: belated return cost

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For AY 2026-27, a belated return can be filed till 31 December 2026. It attracts a late fee of ₹5,000, or ₹1,000 if total income is up to ₹5 lakh, plus 1% a month interest on unpaid tax. Capital losses of the year cannot be carried forward in a belated return.

Provisions

Sec 139(4) (now Sec 263(4)); Sec 234F (now Sec 428); Sec 234A (now Sec 423); Sec 80 (now Sec 121)

Analysis

Under Sec 234F (now Sec 428) the fee is paid before filing, and Sec 234A interest runs from 1 August 2026 on any tax not paid. If your share trading this year had a net short term loss of ₹60,000, Sec 80 (now Sec 121) stops you from carrying it forward in a belated return. Losses brought forward from earlier years filed on time can still be set off. File as soon as possible to keep interest low.

Close

  1. Compute tax, interest and late fee.
  2. Pay through e-Pay Tax before filing.
  3. File ITR-2 selecting Sec 139(4).
  4. E-verify within 30 days.

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