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The deadline to file Income Tax Returns (ITR) for the financial year 2025-26 ends tomorrow, September 15.
Updated on: Sep 14, 2025 4:09 PM IST
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The deadline to file Income Tax Returns (ITR) for the financial year 2025-26 ends tomorrow, September 15.
The due date was extended from July 31 after tax professionals flagged technical glitches, data mismatches, delayed forms, and issues with the new ICAI reporting format.
The Indian Taxation Advocates Association has also demanded the extension for filing ITR to December 31, citing the existing technical glitches, as reported by HT.
What if you miss the ITR deadline?
- Loss of carry-forward benefits
One of the most overlooked penalties is the loss of carry-forward benefits for losses. For example, if you have incurred business losses or capital losses (say, from stock market trading) in FY25, you cannot carry them forward to offset gains in the coming years unless you file your ITR before the due date.
Also Read | ITR filing deadline: Income Tax deadline to extend? IT department shares update
- Delayed refunds
Even if you are due for a refund, filing after the deadline slows down processing. Refunds filed late may take months longer to get credited compared to those filed before the deadline.
- Prosecution in serious cases
In extreme cases where taxpayers deliberately evade filing, the Income Tax Department has the authority to launch prosecution. This is rare and usually applies to cases involving very high incomes, black money, or fraudulent activities, but the law provides for jail terms of three months to two years if the default is willful.
Can you still file after deadline?
Yes. You can still file a belated return until 31 December 2025. However, this comes with the penalties mentioned above and restrictions on loss carry-forward. The Income Tax Department has also indicated it will track chronic late filers more strictly, in line with its drive for higher tax compliance.
Also Read | I-T dept launches crackdown on tax evasion, misuse of CSR donations
Over 6 crore returns filed: I-T department
So far, more than six crore returns have been filed, according to the Income Tax Department.
"Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now and still counting," the I-T department said in a post on X.
ITR filings have shown consistent growth over the years, reflecting rising compliance and the widening of the tax base. For AY 2024-25, a record 7.28 crore ITRs were filed up to July 31, 2024, compared to 6.77 crore in AY 2023-24, registering a 7.5 per cent year-on-year growth.
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