Belated ITR Filing – Big update for taxpayers.The deadline for filing income tax returns was September 16, 2025, but many taxpayers still missed filing their returns. However, they still have a chance to file their income tax returns (ITR Filing 2025), provided they pay a penalty. But do you know whether you will have the option to choose your preferred tax regime, whether it’s the Old Tax Regime or the New Tax Regime?
Will you get a chance to choose the tax regime?
According to income tax rules, after the deadline for filing income tax returns has passed, taxpayers can only file returns under the new tax regime. They do not have the option to choose between the two tax regimes.
Returns will be filed with the default regime
In fact, the government has now made the new tax regime the default option. The new tax regime has lower tax rates and provides no tax on income up to ₹11 lakh. However, the old tax regime offers several deductions, such as 80C, 80CCC, and 80CD(1), which are not available under the new tax regime.
Interest will have to be paid along with the penalty
It should be noted that filing a belated ITR (Belated ITR Filing 2025) can result in a penalty of up to ₹5,000. Furthermore, if a tax liability arises under Section 23A, a belated ITR will also attract 1% interest on the tax liability. However, if the taxpayer has already paid the tax, filing a belated ITR will not incur any interest.
Belated ITR Filing Deadline
It is worth noting that the last date for filing belated ITR for the financial year 2024-25 or assessment year 2025-26 is December 31, 2025. However, penalty and interest will have to be paid for the number of months of delay in filing the belated return.