As the extended deadline for the day to file an Income Tax Return (ITR) for fiscal 2024-25 has also passed, taxpayers want to know if they can still file an ITR. If so, what is the program and do you need to pay any fines? In this article, we will tell you everything related to submitting an ITR, spanning the last date. But before that, let us know what the final deadline for ITR application is.
Typically, the Central Taxation Commission (CBDT) sets July 31 as the deadline for ITR application for non-audited taxpayers. But in May this year, CBDT announced that it would extend the deadline to September 15. However, due to a technical failure on the previous day’s income tax website, the deadline was extended by one day to September 16.
Also read: Are you a salaried individual, professional or company owner? ITR application deadlines are different – know yours
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Submit ITR after the deadline
Yes, taxpayers can file ITR after passing the deadline. For example, if you do not submit an ITR for fiscal year 2024-45 until September 15, you can do it by December 31, 2025. However, if you miss the due date, you may have to pay a fine and interest.
Under Section 234A, if taxes are payable, then a portion of the month or part of the month and a portion of the month and a portion of the month and a portion of the month. Article 234A applies to all taxpayers, including HUFS (Undivided Family in India) and businesses.
Depending on the case, a fine under Section 271F may also be subject to Rs 5,000. However, if the taxpayer has paid the tax and only the return is yet to be repaid, no interest will be charged.
Please also read: ITR Application 2025: Receive notification after submitting ITR? You can do this to avoid fines
Calculation of interest calculated under Article 234A
Tax payable for balance × 1% × months delayed
FAQ
What happens if I submit a belated ITR?
If you submit your ITR after the deadline, you will be required to pay a fine of up to Rs 5,000 and may face some other consequences. This means that if your total income is as high as Rs 5 lakh, the penalty is that you have to pay Rs 1,000, but if it is above Rs 5 lakh, the penalty will rise to Rs 5,000.
What are the interest and fines for filing ITR after the deadline?
Under Section 234A, if taxes are payable, then a portion of the month or part of the month and a portion of the month and a portion of the month and a portion of the month.
What are Sections 234B and 234C?
Under Section 234B, interest is charged for payments of unpaid or advance tax, and under Section 234C, interest will be charged for deferring the deferred advance tax installment.
How to calculate interest under Article 234A?
Tax payable for balance × 1% × months delayed
Also Read – ITR Archives: New TDS/TCS Declaration Correction Deadline; Here are the steps you should take to avoid tax notices
