ITR Filing Deadline: If you missed the September 16 deadline to file your income tax return, don’t stress. You can still submit your belated ITR (Interim Return) until December 31, 2025. It’s really important to file a late income tax return to dodge any penalties and fines for not filing your taxes.
Keep in mind that there will be fees and interest for late submissions. Even if you manage to file a belated return, you won’t be able to avoid the penalties and interest. Since you’re filing after the deadline, late fees and interest will apply. Taxpayers face late fees under Section 234F and interest under Section 234A, which means you could end up paying more if you file late.
So, what exactly is a belated return? It’s any return that’s filed after the original due date, which is September 16. Only returns filed under Section 139(1) or belated returns that have already been submitted can be corrected later. Returns filed under Section 142(1) can’t be revised based on the notice.
You also have the option to file a revised return. If you left out any details or made a mistake in your ITR, you can fix it later by submitting a revised return. It doesn’t matter if the error was accidental or on purpose; you can correct it with a revised return.
When’s the last date to file a revised ITR?
You can submit the revised return up until three months before the end of the relevant assessment year (which means by December 31) or before the assessment is completed. Keep in mind the downsides of filing late returns. If you file your ITR after the deadline, you might miss out on some benefits and will have to deal with late fees and interest. So, make sure to file your ITR on time!