What happens if you miss ITR deadline? Late fees, delayed refund and more. Details
If someone fails to file ITR before the deadline, the consequences can include late filing fees, losses not getting carried forward, delayed refund and more.
The Income Tax Department on Monday extended the deadline to file income tax returns for the financial year 2025-26. The earlier deadline of 15 September was pushed by one day, making 16 September the last date to file your returns. Those who failed to file ITR on Monday can still do so without paying an extra fine on Tuesday.
If someone fails to file ITR before the deadline, the consequences can include late filing fees, losses not getting carried forward, deductions and exemptions not being available.
Also read: ITR filing due date extended: What is the new deadline? Why was it pushed back?
What happens if you miss the ITR deadline?
Extra fees
In case a person misses filing ITR within the due date, they can still file it; however, a late fee of up to ₹5000 will be applied for filing later. Further, an individual will also be required to pay interest on the tax liability (if any). The late fee amount can also be reduced from 5000 to ₹1000 if the total income of a person does not exceed 5 lakh. The ITR will be filed as a belated or revised return.
Also read: Last day to file income tax return today: Step-by-step guide to file ITR
Loss of carry-forward benefits
One of the consequences of filing ITR after the deadlines is the loss of carry-forward benefits for losses. If a business has incurred losses, the person won't be able to carry them forward to offset gains in the coming years.
Delayed refund
If someone is due for a refund, filing ITR after the deadline might further slow the refund processing and might take months to get credited.
Prosecution in rare cases
In rare cases involving serious illegal activities, the Income Tax Department can launch prosecution. It is rare and is only done in cases involving fraudulent activities.
What is the deadline to file ITR?
The deadline to file ITR has September 16 extended from the earlier date of September 15. This move was taken as filings were disrupted on Monday due to technical glitches.
