ITR Filing: What happens if you miss the 15 September deadline? How much penalty is applicable?

ITR Filing: With less than two weeks remaining to file income tax returns (ITR), taxpayers should report their taxable income before the 15 September deadline. But what if you miss the deadline? In case you fail to file your income tax returns on time, the Income Tax Department still allows you to submit them later, but a penalty will be levied.

On missing the ITR deadline, taxpayers can file a belated return on or before December 31 of the applicable assessment year. For AY 2025-26, the due date to file a belated return is on or before 31 December 2025.

What is a belated return?

A belated return can be filed by a taxpayer who missed the original filing deadline after paying a penalty under Section 139 (4) of the Income Tax Act.

What are the penalties for filing a belated return?

Taxpayers must note that penalties are levied on filing belated returns under Section 234F of the Income Tax Act. These fines are determined based on income level. Individuals earning over ₹5 lakh must pay a penalty of up to ₹5,000 for late return filing, while those with a net taxable income of ₹5 lakh or less face a maximum penalty of ₹1,000.

Income tax filing deadline

The last date to file ITR for Assessment Year 2025-26 (i.e. FY 2024-25) has been extended to September 15, 2025, from July 31, 2025, due to the “extensive changes introduced in the notified ITRs and considering the time required for system readiness and rollout of ITR utilities for AY25-26", the Central Board of Direct Taxes (CBDT) informed in a notification issued in May this year.

Conclusion

In summary, taxpayers are encouraged to file their ITR by September 15. If this deadline is missed, a belated return can be submitted. While late filings may incur penalties, it is preferable to avoid penalties for non-compliance.

Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice. Taxpayers are advised to consult a qualified tax professional or refer to the official website of the Income Tax Department for accurate and up-to-date guidance before filing their returns.