ITR Filing Last Day: Key Things To Note In Case You Can't File Your Returns Today

With the extended deadline of Sept. 15 to file Income Tax Returns (ITR) for Assessment Year 2025-26 ending today, taxpayers and chartered accountants are continuing to urge the government for a further extension.

The demand comes amid ongoing technical glitches on the Income Tax e-filing portal, which is reported to have made the filing process difficult in recent days.

The Sept. 15 deadline applies to individuals, Hindu Undivided Families (HUFs) and entities not subject to tax audit. This includes salaried individuals, pensioners, landlords and investors with capital gains, and small businesses or professionals opting for the presumptive taxation scheme (Sections 44AD, 44ADA, 44AE).

Earlier, the Central Board of Direct Taxes (CBDT) had extended the original July 31 deadline to Sept. 15 due to changes in ITR forms and Excel utilities. But with just hours left, many are still facing challenges in completing their income tax filing.

If a taxpayer misses the ITR deadline and fails to report the income within the stipulated time, they are likely to face penalties. The Income Tax Department allows taxpayers to file belated returns, but it may come with additional fines.

Penalty For Late ITR Filing

1. If the Income Tax Return is not filed by Sept. 15, a late fee of up to Rs 5,000 may be levied. However, for taxpayers with a total income below Rs 5 lakh, the penalty is limited to Rs 1,000.

2. Taxpayers who miss the deadline will be liable to pay interest at 1% per month (or part thereof) on any unpaid tax amount until they file their return after missing the deadline.

3. Filing after the due date may lead to the loss of certain benefits, such as the ability to carry forward losses (except house property losses) and claim specific deductions under the Income Tax Act, 1961.

4. If a taxpayer fails to file their return despite having taxable income, they may face a penalty of up to 50% of the tax avoided, under the provisions of Section 270A for under-reporting or misreporting of income.