Today is the last date to file Income Tax Return (ITR Last Date) for Assessment Year 2025-26. The Income Tax Department had extended the deadline for filing from July 31 to September 15 this year and made it clear that this will be the final date.
The September 15 deadline for ITR of FY 2024-25 applies to taxpayers who are not under tax audit. This includes individuals, Hindu Undivided Families (HUFs), and entities filing ITR Forms 1 to 4. If you do not file ITR today, you may face a penalty and other losses.
Penalty if You File Late
If you file ITR after September 15, you must pay fine. Fine is ₹5,000 if income is above ₹5 lakh. Fine is ₹1,000 if income is less. You can file late return till December 31, 2025. You can file updated return till March 31, 2030.
If you have tax to pay and do not file, you must pay interest. Interest is 1% per month on tax amount from last date till filing date.
Loss and Jail
If you have loss, you can carry it to next year only if you file on time. If you file late, you cannot carry loss, except house property loss.
If tax due is more than ₹25,000 and you do not file, you may go to jail 6 months to 7 years with fine. If tax due is less than ₹25,000, you may go to jail 3 months to 2 years with fine.