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  7. What will happen if I don’t file before the due date?

What will happen if I don't file before the due date?

Updated on: 16 Jun, 2025 03:30 PM

Income Tax Return filing for FY 2024-25 has begun!
File your ITR on time with expert help – Accurate, timely, and refund-ready!

Due Date Extended !!
Due date for Income Tax Return filing has been extended from 31st July 2025 to 15th September 2025 by the Income Tax Department

Though it is always beneficial to file your Income tax Return before the due date rather than filing it after the due date, as it entitles you to avail the perks of early filing, like a faster refund process.

Even after the due date has passed, you can furnish your return at any time before the end of the relevant assessment or before the completion of the assessment, whichever is earlier. This means that if you did not file an income tax return for F.Y. 2024-25 (A.Y. 2025-26), you can file a belated return by 31st December 2025. However, if you file a belated return, you need to pay a penalty of upto Rs.5,000 and face various other consequences. In this guide, we will discuss the various consequences of missing the ITR filing deadline.

Contents

Interest and Penalty for Late Filing

If there is tax payable and you could not file the return within the prescribed due date, then interest u/s 234A @ 1% per month or part of the month will be payable along with the tax due. Also, interest u/s 234B, 234C, and penalty (at the sole discretion of the tax officer) of Rs 5,000 u/s 271F might also be payable depending upon the case. However, if all the taxes have been paid and only the return is not filed, then Interest will not be charged.

Delay in Refund

If you file your return after the ITR filing due date, i.e., 15th September 2025, the Income Tax Department may take some extra time in processing your return u/s 143(1), and hence, the refund order may get delayed unnecessarily.

Losses from the Business Cannot be Carried Forward

If the return is filed after 5th August or it is not filed at all, losses arising from business or profession and losses under Income from Capital Gains head or Income from other sources head cannot be carried forward to the next year. But, if you file a late return (after 5th August but before the end of the relevant assessment year), you can carry forward the loss arising under Income from House Property.

Seeing all these repercussions of missing the deadline for filing return, you should definitely file your ITR by 15th September 2025, to escape from any interest or penalties. Filing ITR has numerous benefits which can be unwrapped only if you file returns on a timely basis.

ITR filing for FY 24-25 has started, and it's important to ensure you file your ITR accurately to avoid notices and penalties. From tax planning to tax filing and notice assistance, Tax2win experts have got you covered. Hire a tax expert now and experience a seamless and hassle-free tax journey. Book an Online CA now!

Frequently Asked Questions

Q- How is interest under Section 234A calculated?

Interest = Balance tax payable × 1% × Number of months delayed.
Even a part of a month counts as a full month.
For example, if you delay filing your ITR by 4 months and 10 days, interest will be charged for 5 months.

Q- Who does Section 234A apply to?

Section 234A applies to all taxpayers—individuals, HUFs (Hindu Undivided Families), and businesses.

Q- What happens if I miss the ITR filing due date?

If you miss the due date, you’ll need to pay interest and possibly a late fee. You can still file a belated or updated return, depending on your case.

Q- Who can file ITR Form U (Updated Return)?

Anyone who has missed reporting income or made an error in previously filed returns can file an updated return using Form U.

Q- Can I file ITR after the belated return deadline?

Yes. If you miss both the original and belated return deadlines, you can still file an updated return under Section 139(8A).

However, you must pay extra tax, interest, and late fees. You can file the updated return within 4 years from the end of the relevant assessment year.

Q- What if I don’t file ITR for several years?

The Income Tax Department may issue a notice under Section 142(1) or 148. You may face heavy penalties, interest, or even prosecution. Also, banks may reject your loan applications if you don’t have ITR records.

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Kamal Murarka

Kamal Murarka
Director - Tax Research & Operations

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Kamal Murarka, a Chartered Accountant, is the Director- Tax Research & Operations at Tax2win. He has been with the company since its inception, contributing his expertise in national and international tax assignments. He is also a recognized speaker on tax-related topics, representing Tax2win at various industry forums. His deep knowledge and strategic insights have been crucial in shaping Tax2win’s approach to tax research, operations, and client solutions, driving the company’s continued success.