ITR Filing Deadline 2025: What Happens If You Miss It?
The Income Tax Return (ITR) filing deadline for Assessment Year 2025-26 is fast approaching on 15 September 2025 . While millions of taxpayers—salaried employees, professionals, freelancers, and businesses—are hurrying to file on time, many remain unaware of the serious consequences of missing the deadline. From late fees and interest charges to even loss of tax benefits and prosecution in extreme cases , the implications are significant. Late Fee Under Section 234F The Income Tax Act, 1961 , prescribes a penalty for delayed filing under Section 234F , based on the taxpayer’s income: If total income exceeds ₹5 lakh , the penalty is ₹5,000 . If total income is below ₹5 lakh , the penalty is ₹1,000 . No penalty applies if the income is below the taxable threshold . However, even those exempt from penalty may still face compliance issues if filing is required for reasons such as foreign income or certain financial transactions . Interest on Unpaid Tax Liability If you...