Income tax
The Central Board of Direct Taxes Department has already increased the last date for filing income tax return for FY 2024-25 to 15 September 2025. Now only 3 days and only 3 days are left in this date. What if you did not file an ITR within the deadline? Let us answer this question to you as well as explain in detail about the options you will.
According to the current rules of the Income Tax Department, if you miss the time limit for filing ITR, then first you have to pay a late fee of up to Rs 5,000. By paying this fee, you can file ITR for FY 2024-25 by December 31, 2025. However, the real issue is not just a delay fee. Rather, it was your taxable income and you did not file your ITR. If you also miss the deadline of late ITR, then you may get into legal trouble, including the lawsuit. In 2024 last year, a woman in Delhi was sentenced to jail for not filing an ITR.
What are the consequences of not filing ITR on time?
In the ET’s report, Abhishek Soni, a center-founder of Tax 2 Win, says that missing the deadline of the original ITR can lead to many consequences.
- Late Payment Fee- Under Section 234F, late ITR (ITR filed after the original time limit) can be fined up to Rs 5,000. If the income is less than Rs 5 lakh, then the fine is Rs 1000, and if the income is more than Rs 5 lakh, then the fine is Rs 5000.
- Interest on Tax DU- Interest may be applied for the late filing of ITR under Section 234A, for reduction in demand tax in 234B and stay in 234C demand tax.
- Dari in refund The filing of ITR after the due date can delay the refund process. Together, a strict investigation can be done by the Income Tax Department for filing ITR with delay.