Only 4 days left now... The deadline for filing ITR is near; if you miss it, you may have to loosen your pocket more.

ITR Filing Deadline 2025: Under section 234F of the Income Tax Act 1961, a penalty is imposed on those who file ITR late. However, this amount is decided according to the income of the taxpayer.

ITR Filing Deadline 2025: The deadline for filing ITR is slowly approaching. It was first extended from 31 July to 15 September. That is, now only a few days are left to file the return. Now the most important question comes that what will happen if you are unable to file your Income Tax Return (ITR) within the stipulated time? Let us give you complete information about this through this news today.

Late fee will have to be paid

Section 234F of the Income Tax Act 1961 becomes applicable on those who do not submit ITR even after 15 September. Under this, the Income Tax Department imposes a fine on taxpayers for filing late ITR. Under this section, penalty is levied by the department. The penalty is imposed according to the income of the taxpayer.

How much penalty will have to be paid?

If your total income is more than Rs 5 lakh, then you will have to pay a penalty of Rs 5,000.

If the total income is less than Rs 5 lakh, then a penalty of not more than Rs 1,000 will have to be paid.

If the income is less than the taxable limit, then no penalty will be imposed.

Interest on outstanding tax

Under section 234A, interest at the rate of 1 percent is also levied on those who fail to file the return before the due date. That is, apart from the penalty, interest will have to be paid separately.

Loss of carry-forward benefits

Failure to file income tax return before the due date leads to loss of carry-forward benefits. Suppose if you have incurred business losses or capital losses (say, from trading in the stock market) in the financial year 2025, you cannot carry them forward to offset your profits in the coming years unless you file your ITR before the due date.

Delay in getting refund

Filing returns after the deadline also delays the processing of refunds. Those who file ITR after the deadline also face a delay in getting refunds as compared to those who file ITR before the deadline.

Will the government extend the deadline?

Taxpayers are expecting an extension of the deadline for filing returns, especially in view of the GST reforms and portal glitches in the recent past. However, according to the concerned officials, the deadline is unlikely to be extended further this year, unless there is a technical glitch in the filing system.