India, Sept. 14 -- 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.

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 IT...