Missed ITR Deadline? Here's What Happens Next and How to Avoid Penalties!
Personal Finance
C
CNBC TV18•09-01-2026, 16:11
Missed ITR Deadline? Here's What Happens Next and How to Avoid Penalties!
- •Missing the ITR deadline (July 31, 2026, for FY 2025–26) means your return is categorized as a belated return.
- •You can still file a belated ITR until December 31, 2026, but it incurs a late filing fee under Section 234F (up to ₹5,000).
- •Unpaid taxes accrue interest at 1% per month under Section 234A, significantly increasing your tax outgo.
- •Belated filing can delay tax refunds and you lose the ability to carry forward certain losses (business, capital losses).
- •Missing the December 31 deadline leaves ITR-U as the only option, with additional penalties and no refund claims.
Why It Matters: Missing the ITR deadline leads to penalties, interest, loss of benefits, and financial credibility issues.
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