The deadline to file Income Tax Returns (ITR) for Assessment Year 2025-26 is September 15, 2025. Experts believe this due date is unlikely to be extended, so the taxpayers are advised to file their returns on or before this date.
If you miss this deadline, you can still file a belated return by December 31, 2025. However, late filing attracts penalties, interest charges, and other repercussions under the Income Tax Act.
What is the Penalties Under Section 234F?
A late-filing fee applies if you miss the ITR deadline.
- If your total income is up to ₹5 lakh, the penalty is ₹1,000.
- If your total income is above ₹5 lakh, the penalty is ₹5,000.
This late fee is in addition to the interest charges under other sections of the law.
Interest on Late Filing: Sections 234A, 234B, and 234C
Missing the deadline also triggers multiple types of interest payments:
Section 234A: If you fail to file your return on time, you pay 1% interest per month or part of the month on your outstanding tax liability. Even a one-day delay in the next month leads to a full month’s interest.
Section 234B: If you did not pay at least 90% of your tax liability as advance tax by March 31, 2025, this interest applies. It is charged from April 1 until the date of payment.
Section 234C: This applies if you missed or delayed advance tax instalments during the financial year.
Preeti Sharma, Partner, Tax & Regulatory Services, BDO India LLP, explained, “Therefore, a taxpayer who has not paid adequate advance tax during the year and delays filing the return beyond the due date, may end up bearing a three-fold interest burden under Sections 234A, 234B, and 234C. The cumulative impact of these provisions can significantly inflate the overall tax outgo. Timely payment of advance tax and adherence to the ITR deadline is thus not just a compliance requirement, but also a critical strategy for minimizing penal costs.”
Restrictions on Belated Returns
Filing ITR late also limits your options and benefits. You cannot opt for the old tax regime if you miss the deadline, even if you had chosen it earlier with your employer. The new regime becomes the default in such cases.
You cannot carry forward losses from business or capital gains. Losses from self-occupied house property also cannot be carried forward. However, losses from rented house property can still be carried forward if not adjusted in the same year.
The ITR deadline is not just a compliance date. Missing it can cost taxpayers extra money through penalties, interest, and loss of tax benefits. Filing returns on time ensures smoother compliance, minimizes costs, and helps in avoiding legal and financial setbacks.
