India, Sept. 11 -- The clock is ticking for taxpayers as the Income Tax Return (ITR) filing deadline for Assessment Year 2025-26 approaches on 15 September 2025. Millions of salaried employees, freelancers, professionals, and businesses are rushing to meet the cut-off. But what if you miss the deadline? The consequences can be more serious than most people assume.

The Income Tax Department imposes a late filing fee under Section 234F of the Income Tax Act, 1961. The penalty is linked to your income level:

If you have any outstanding tax liability, missing the deadline adds another burden. Under Section 234A, you will have to pay 1% interest per month or part of the month on the pending tax amount. This is over and above the late fee.

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