ITR filing deadline approaching: What penalty awaits those who miss it?
Kolkata: Usually one has to file Income Tax Returns of the preceding financial year by July 31 every year. However, this year, the last date for filing ITR has been pushed back to September 15. If a taxpayer misses this deadline, he/she has to face penalties, after paying which one can file tax returns.
The amount of penalty will depend on the level of income of the taxpayer. The Income Tax Department will allow one to file what is known as a Belated Return. The last date for filing a Belated Return is December 31, 2025. However, one has to pay the penal amount. This will be for assessment year 2025-26.
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