Income Tax, Sept. 16 -- Today is the last date to file an income tax return (ITR) for the assessment year 2025-26 after the Central Board of Direct Taxes (CBDT) extended the last date by one day. So far, over 7.30 crore returns have already been filed, the Income Tax (I-T) Department tweeted.

However, if you miss filing the return today as well (which is not recommended at all), then the alternative is to file a belated income tax return under section 139(4).

A belated income tax return is one filed after the last date but before 31 December 2025. It attracts a late fee of Rs.5,000 but deprives the taxpayer of carrying forward losses.

A belated return can be filed when one fails to file a return on time before the last date. This means...