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If you haven’t filed your Income Tax Return (ITR) for FY 2024-25 yet, act fast—the deadline for most taxpayers has been extended to September 15, 2025. But don’t let the new date lull you into carelessness. Missing the due date can invite strict penalties, interest, loss of tax benefits, and even jail time in serious cases.
Key Points: ITR Filing Penalty & Legal Consequences
1. New Extended Deadline
Last date to file ITR (non-audit cases): September 15, 2025.
After that, you can file a belated return until December 31, 2025—but with penalties.
2. Late Filing Fee – Section 234F
Penalty:
Income above ₹5 lakh: ₹5,000.
Income up to ₹5 lakh: ₹1,000 cap.
Applies to returns filed after September 15 but before December 31, 2025.
3. 1% Monthly Interest – Section 234A
Interest Rate: 1% per month (or part month) on the pending tax amount, starting from September 16, 2025, until the ITR is filed.
4. Loss of Tax Benefits
Late filers forfeit certain deductions/exemptions.
You cannot carry forward business or capital losses to future years if ITR is filed after the due date.
5. Heavy Penalty for Wrong Information – Section 270A
If you misreport or conceal taxable income deliberately:
Under-reporting: 50% of the tax due as a penalty.
Misreporting (deliberate concealment): Penalty goes up to 200% of the tax evaded.
6. Jail for Large & Wilful Non-Compliance – Section 276CC
If tax due exceeds ₹25 lakh and you deliberately don’t file ITR:
Imprisonment: From 6 months to 7 years, plus fine.
For lower amounts, jail term is 3 months to 2 years and fine.
What Should You Do Now?
File your ITR well before September 15, 2025.
This avoids the stress and penalties that follow late or missed filings.
Don’t risk mistakes—review income sources carefully.
File accurate, honest returns to steer clear of Section 270A and 276CC action.
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