Consequences of Missing Income Tax Return Deadline

ITR Filing 2025 You may have to face many problems due to not filling the income tax return on time. Experts told Jagran Business that you may get a notice. Along with this, there may be problems in getting loan and visa. The last date for filing Income Tax Return is 15 September. The department has not extended the date yet (itr due date extension).

The last date for filing Income Tax Return is 15 September. So far, the department has not announced the extension of the due date. Many people have not been able to file ITR yet. They may also have to bear the brunt of this. At the same time, many people who do not file ITR on time may also have to suffer losses. Jagran Business spoke to the experts in this regard and found out what can happen if ITR is not filed on time.

The expert told Jagran Business that filing your income tax return (ITR Filing 2025) on time is more than just a legal formality. This saves you from penalties, notices and unnecessary financial stress. But what if you miss the deadline? Let's understand the consequences in simple terms.

You may have to pay a penalty for not filing ITR
If you file late, you will have to pay a late fee under section 234F. Those with income of ₹5 lakh may have to pay a maximum penalty of ₹1,000. At the same time, those with income of more than ₹5 lakh may have to pay a maximum penalty of ₹5,000. This penalty is in addition to any tax payable by you.

Example: If your income is ₹7 lakh and you file after the deadline, you may have to pay a penalty of ₹5,000.

Income Tax Return Filing: You may have to pay additional interest
If there is any tax due, you will have to pay interest under sections 234A, 234B and 234C. Interest is charged on the outstanding tax amount until you pay it. Delay means your tax bill will keep increasing.

ITR Filing 2025: Loss of carry-forward benefits
If you have incurred capital losses (from shares, property, mutual funds, etc.), you can adjust it against future gains. But if you file late, you lose the right to carry forward these losses. This can cause you a big loss in tax later.

Delay in getting Income Tax Refund
Filing ITR late may take time to get your return. The sooner you apply, the sooner you will get your money back. For many people, this delay is a big loss in itself.

Risk of getting income tax notice
Filing late or incorrectly increases the chances of you being issued a notice by the Income Tax Department. If you do not file completely, you may get a show cause notice asking why you did not comply. A small deadline miss can lead to a long compliance issue.

Loan, visa may be difficult to get

Banks often ask for a copy of Income Tax Return (ITR) for loan approval (home, car, personal loan). Income Tax Return (ITR) is required as income proof for visa processing in many countries. Missing the deadline can complicate such financial or travel plans.

File ITR on time to avoid losses

Missing the ITR deadline (itr due date extension) not only means paying a penalty, but it can also affect refunds, future tax benefits and even your financial credibility. If you have not filed the return yet, do not wait. File it today and avoid these hassles.