Those who could not file ITR (income tax return) for FY 2021-22 (the assessment year 2022-23) up to due date i.e. 31-7-2022, are worried about what to do now. The following points are helpful for you:-
 

• If you are a company then in your case due date for filing ITR for FY 2021-22 (assessment year 2022-23) upto due date i.e. 31-10-2022 (audit report is to be filed upto 30-9-2022). Hence you still have time to file ITR, no need to worry. 

• If you are such a firm, trust, LLP, BOI, HUF, or any individual who is subject to audit (who are required to get their accounts audited ) , then in your case due date for filing ITR for FY 2021-22 (the assessment year 2022-23) upto due date i.e. 31-10-2022 (audit report is to be filed upto 30-9-2022). Hence you still have time to file ITR, no need to worry. 

 
But if you are not subject to audit and in your case due date was 31-7-2022, which is now over then refer following points:-

• You can file a belated return u/s 139(4) upto  31-3-2023. (i.e. upto the end of the assessment year or before completion of the assessment whichever is earlier), But if you file a return upto 31st December then the penalty amount will be half.  

• Is a late filing penalty is applicable in a belated return, the answer is “YES”.  If you could not file ITR upto the due date (under 139(1)) then the penalty is applicable even if you file a belated return. 

How much penalty is payable on late filing of Income tax returns?

• If you file a belated return u/s 139(4) upto 31st December then penalty amount is Rs. 5000.
• If you file a belated return u/s 139(4) after 31st December then penalty amount is Rs. 10000.
• If total income does not exceed Rs. 500000/- then penalty is only rs. 1000.
• If total income does not exceed basic exemption limit then penalty for late filing is NIL.

For more detail on due date for FY 21-22 (assessment year 2022-23)( Click Here)