If you missed the first deadline for submitting a return, you have until December 31 of the applicable assessment year to file a late return. You may submit a condonation of delay request and ask the income tax authorities to excuse the delay if you too miss this deadline due to valid circumstances.

Declare your explanation for missing the deadline and ask the Income Tax Commissioner or the appropriate authorities for permission to submit income tax returns. The following standards will determine whether the officer grants your request:

The assertion is true and accurate.

The case is supported by substantial merits.

Excess tax deduction, TDS, advance tax, or self-assessment tax have all led to a refund.

The Income Tax Act prohibits the assessment of the tax by anybody else.

If you haven't paid your tax for the fiscal year 2022–2023, you are required to do so in accordance with Sections 234A, 234B, or 234C. Even if you are unable to submit your income tax returns, you must still pay the tax.

It is possible that you filed returns but paid your taxes on time. You are not permitted to submit tax returns or get a delay pardon in this situation. If an ITR is not filed, the income tax department may issue a notice under Section 271F. A fine of up to Rs. 5,000 may be imposed on you if the deadline is missed. You may not have to pay the penalty if you have a valid justification for not filing and the officer is happy with it.

If you don't file returns, the income tax division may take legal action against you, including sending you a notice and imposing penalties. In the worst-case situation, you may face legal action and a seven-year jail term.

In order to comply with a notification from the income tax department, you must reply to it through the income tax e-filing system and submit an ITR.

There might be a penalty of up to 200% of the tax due if you underreported your income. The assessing officer may waive the penalty if the taxpayer underreported his income but paid taxes with interest after the deadline. In this situation, no penalty will be assessed against the taxpayer. Although there is a backup plan in case you forget to submit your ITR by the deadline, it is advised that you do so by July 31 of the assessment year. For the FY 2022–2023, for instance, you must submit your ITR by July 31, 2023.