Kolkata: Usually one has to file Income Tax Returns of the preceding financial year by July 31 every year. However, this year, the last date for filing
ITR has been pushed back to September 15. If a taxpayer misses this deadline, he/she has to face penalties, after paying which one can file tax returns.
The amount of penalty will depend on the level of income of the taxpayer. The Income Tax Department will allow one to file what is known as a Belated Return. The last date for filing a Belated Return is December 31, 2025. However, one has to pay the penal amount. This will be for assessment year 2025-26.
Penalty for belated return
The concept of Belated Return has been explained in Section 234F of the Income Tax Act 1961. This section was introduced in 2017 through the Finance Act to haul up individuals who do not file ITRs within the scheduled date. The penalty has to be paid before filing the ITR.
The amount of fines are determined by the level of annual income of the taxpayer. If one is earning a net taxable income of Rs 5 lakh or less, the amount of penalty that one has to pay is Rs 1,000. However, the penal amount jumps 5 times if one earns more than Rs 5 lakh per annum. The penalty jumps to Rs 5,000.
The extension of the last date of filing ITR for FY25 and Assessment Year 2025-26 was due to the “extensive changes introduced in the notified ITRs and considering the time required for system readiness and rollout of ITR utilities for AY25-26″, CBDT (Central Board of Direct Taxes) notified in May 2025.
“Though there is legal provision in paying penal amount and filing a Belated ITR by the end of this year, it is advisable not to cross the deadline. One should try to complete the process by the September 15 deadline and avoid paying the late fee,” said Himadri Mukhopadhyay, secretary, Income Tax Bar Association Calcutta.
