You can make request for condonation of delay and e verify the return. thereafter, ITR will be processed. So no problem would arise in your already filed ITR and of subsequent year.
This depends on case to case, if there are some financial transactions that department gets then may be notice or compliance of high value transaction under compliance portal required. so , one cannot surely say anything about this.
@ Harsh Arora If you have believe that nothing there in the FY which makes enquiry by department in near future then leave the return as it is, it will get invalid. in near future in case you need any loan or visa they required ITR for current year and two immediate preceding year. thus there will be gap in two ITR. Hope you get my point, in short apart from gap there will be no issue.
Thank you CA abhay gupta ji. For the sake of further information i m adding -this was the first time filed return. So there is not going to be any gap of any kind. Also there is no urgent loan requirement in the coming 3-5 years.