The deadline to file Income Tax Returns (ITR) for the assessment year 2025-26 has been extended to September 16, 2025. The Central Board of Direct Taxes (CBDT) extended the deadline from the original date of July 31, 2025, and then again from September 15, 2025. The extension was granted due to technical glitches reported on the e-filing portal.

Missing the ITR filing deadline can lead to several negative consequences. Here’s what you need to know:

Penalties for Late Filing

• Late Fee: If you file your ITR after the due date, you will be charged a late fee under Section 234F of the Income Tax Act. For those with an income above ₹5 lakh, the penalty is ₹5,000. For those with an income below ₹5 lakh, the penalty is ₹1,000.
• Interest: In addition to the late fee, interest under Section 234A will be charged at 1% per month on any outstanding tax liability, calculated from the original due date until the return is filed.

Other Consequences of Late Filing

• Loss of Carry Forward Benefits: One of the major disadvantages of filing your ITR after the deadline is losing the benefit of carrying forward losses. If you have incurred losses in your business or from investments, you will not be able to offset these losses against future gains.
• Loss of Deductions and Exemptions: Late filing may also result in the loss of eligibility for certain deductions and exemptions under the Income Tax Act. This can increase your taxable income and, consequently, your tax liability. Claiming deductions like HRA (House Rent Allowance) can become challenging.
• Delayed Refunds: If you are expecting a refund, filing your ITR after the deadline can delay the refund process. It might take several months for the refund to be credited to your account.
• Inability to Switch Tax Regimes: Taxpayers may lose the option to choose between the old and new tax regimes if they file after the due date.

Filing After the Deadline

Even if you miss the September 16, 2025, deadline, you can still file a belated return until December 31, 2025. However, this will attract penalties and may not allow for the full range of tax benefits available to those who filed on time.

Revised Return

If you discover any errors or omissions in your original ITR, you can file a revised return by December 31, 2025. While there is no penalty for filing a revised return within this timeframe, interest may be applicable on any additional tax liability from the original due date until the revised return is filed and the payment is made.

Income Tax Department Assistance

The Income Tax Department has emphasized that its helpdesk is available 24/7 to provide assistance through calls, live chats, WebEx sessions, and social media platforms.

Documents Required for ITR Filing

Before filing your ITR, ensure you have the following documents ready:

• Form 16 from your employer(s)
• Form 26AS
• AIS (Annual Information Statement)
• PAN card
• Aadhaar card (linked with PAN)
• Investment proofs (e.g., bank deposits, PPF, capital gains statement)
• Home loan interest certificate
• Insurance premium payment receipts

Given the potential financial repercussions and loss of benefits, it is advisable to file your ITR before the extended deadline of September 16, 2025.