ITR Filing Deadline: Your Last-Minute FAQs Answered
Thank you for reading this post, don't forget to subscribe!The deadline to file your Income Tax Return (ITR) for the assessment year 2025-26 is today, September 15. If you’re an individual, a Hindu Undivided Family (HUF), or a small business/professional who doesn’t require an audit, this is your last chance to file without penalty.
Here are answers to some common questions for last-minute filers:
What happens if I miss the deadline?
Filing late comes with a late fee of up to ₹5,000. If your income is under ₹5 lakh, the penalty is capped at ₹1,000. You will also lose the ability to carry forward certain losses and will have to pay a 1% monthly interest on any unpaid tax.
How do I know if my ITR is filed successfully?
After you submit your return, you’ll get an acknowledgment number. The most important next step is to e-verify your ITR. If you don’t, your return will be considered invalid.
How do I e-verify my ITR?
You can e-verify your return using several methods, including Aadhaar OTP, net banking, or a Demat/bank account. If you can’t e-verify, you have up to 120 days to send a signed ITR-V form to the Centralized Processing Centre in Bengaluru.
What if the income tax portal is slow?
Heavy traffic on the last day is common. Experts suggest trying to file during non-peak hours, such as early in the morning or late at night.
Can I revise my return later?
Yes, but only if you file by today’s deadline. Belated returns filed after September 15 cannot be revised.
Should I file if my income is below the taxable limit?
While it might not be mandatory, filing is often a good idea. It helps you claim refunds on TDS, serves as proof of income for loan or visa applications, and helps you maintain financial records.
What if I pay my tax after the deadline?
Delayed tax payments will incur a 1% monthly interest until the dues are cleared. Filing your return after paying your tax helps you avoid further penalties.
Timely filing not only helps you avoid penalties but also ensures you get quicker refunds and helps build a strong financial history. Don’t wait until the last minute!
