If you haven't filed your income taxes by today, September 15, 2025, there are far more serious repercussions than just a ₹5,000 late fee.
Although the July 31 deadline was initially extended, there won't be any more extensions. Although there are penalties and limitations, taxpayers who miss today's deadline can still file a belated return by December 31.
Key Highlights
- Miss deadline: Rs 5,000 late fee (₹1,000 if income ≤ ₹5 lakh), lose deductions, delayed refunds.
- Late ITR means no regime switch, restrictions on carrying forward losses, potential interest under Sec 234A.
A fine of up to ₹5,000 is imposed for late filing under Section 234F of the Income Tax Act. Individuals earning less than ₹5 lakh will be required to pay ₹1,000. However, late fees are only the first step.
Filing after the deadline also results in:
- Interest on taxes due under Sections 234A, 234B, and 234C
- Loss of carry-forward benefits, except for home property loss and unabsorbed depreciation.
- Refunds are delayed due to deferred processing.
- Increased scrutiny by the tax department
Critically, salaried and self-employed individuals without business income cannot switch between the old and new tax regimes if they file a late return. This option is only available for filing on or before the original due date.
Also Read: Tax Bodies Seek ITR & Audit Dates Extension Amid Portal Glitches
Furthermore, filing a revised return to change your tax regime is only permitted if the original return was filed before today. The new tax regime is the default starting this assessment year; filing late locks you into it.
Last year, the consequences of non-filing went beyond theory: a taxpayer in Delhi was sentenced to jail for failing to file an ITR.
If you don't file your ITR by the end of today, you can expect penalties, fewer tax options, delayed refunds, and possibly worse.
