While the last date to file the income tax return for FY 2024-25 is 15 September, the I-T department has enabled the application for condonation of delay under section 12A in filing of Form 10A at the e-filing portal.
For the uninitiated, if a condonation request is accepted, there wouldn’t be any need to pay any additional tax, penalty, or interest.
“This form is meant for those taxpayers people who have missed to file their return because of genuine hardship. They can apply for condonation of delay. Essentially, there are two options for the people who have missed to file income tax return. First is to file under ITRU by paying additional tax and penal interest. Another is if taxpayers failed any genuine hardship, unable to file ITR within the due date they can apply for condonation request,” says Chirag Chauhan, founder of CA Chauhan & Company in Mumbai.
“If the request is accepted by the income tax department, then ITR is accepted and they can file it online for the assessment year for which they miss the filing. The cases of genuine hardship could be hospitalisation, death of the relative or any other genuine reason. There should be adequate proof to prove your hardship,” he adds.
Follow these steps for condonation
I. First you need to login to: https://eportal.incometax.gov.in and go to Dashboard.
II Now go to ‘Services’ and click on ‘condonation request’.
III. You can now click ‘application for statutory forms’.
IV. Finally you need to click on ‘Create Condonation Request’ button to proceed further.
Meanwhile, over 4.45 crore taxpayers have filed their income tax returns (ITRs), the data on income tax department’s website shows as on 3 Sept. Out of these, 3.04 crore are verified tax returns. And the total number of individual registered users in India stands at over 13.33 crore, the data reveals.
For all personal finance updates, visit here
