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If you miss the deadline of 15 September, then you have to file a billet or updated itr; Know the terms and conditions – ITR last date Missed What Taxpayers Need to Know About About Belted and Updated Return Rules and Penalties

Many taxpayers and chartered accountants have complained of disturbances in the ITR portal. Such as the problem of opening portal, the not download of Annual Information Statement (AIS) and Form 26AS. Amidst all this, more taxpayers have filed their returns. However, there are still many taxpayers, who have not been able to file returns.

If you have not yet filed ITR, then file it by 15 September. There can be many problems in the event of doing this. You may have to pay more tax with penalty. Also, you will lose many benefits.

Deadline missing effect

Even if you miss the deadline of September 15, you will still have a chance to file ‘Bilated Returns’ by 31 December 2025.

However, for this, late-filing fees will have to be paid. This fee is usually ₹ 5,000. At the same time, whose income is less than ₹ 5 lakh, they will have to pay a fee of up to ₹ 1,000.

These disadvantages will also be

The effect of late filing is not limited to penalty only. If you missed the deadline, you will not be able to carry out your capital loss further. That is, there will be no further benefit from the losses caused by selling stocks, mutual funds or property.

Apart from this, you will not be able to claim many deductions and discounts found in Old Tax Rizm. Also, under Section 234A, the outstanding tax will also be charged at the rate of 1% per month.

  2. To get exemption from Pension and Interest Earnings Based ITR filing, the source of income of senior citizens should be pension only. Also, interest income should also be from the same bank in which pension comes. If the source of income is different from this, then it will be mandatory to fill the return.

Important dates for remembering

The original deadline was on 31 July 2025, but it was increased to 15 September 2025. If this is also missed, you can file a billet or revised return by 31 December 2025. After this, the last chance is of ‘updated return’, which can be filled by 31 March 2030.

  • 31 July 2025: Original Deadline to fill ITR (for individual taxpayers)
  • 15 September 2025: Increased deadline (fY 2024-25, AY 2025-26)
  • 31 December 2025: Last date for filing billets or revised returns
  • 31 March 2030: Last date for filing updated returns for fY 2024-25

Updated return option

If you also miss the deadline for billed returns, then the Income Tax law gives you the option of updated returns. It was implemented in 2022. Under this, you can fill ITR within 48 months. The aim is that you can declare your untouched income and pay tax on it.

However, it has many conditions. For example, you cannot claim additional damage or refund nor reduce tax liability. Once filed, it cannot be revised.

Additional tax burden

You have to pay a lot of tax on filing updated returns. If the assessment year files within 12 months of the end, then 25% additional tax will have to be paid. It increases by 50% in 24 months, 60% in 36 months and 70% in 48 months.

Also read: Tax Refund: Time may take up to 9 months to get tax refund, know what to do if you are delayed?

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