Missed ITR Deadline? Here's What Happens Next and How to Avoid Penalties!

• Missing the ITR deadline (July 31, 2026, for FY 2025–26) means your return is categorized as a belated return.
• You can still file a belated ITR until December 31, 2026, but it incurs a late filing fee under Section 234F (up to ₹5,000).
• Unpaid taxes accrue interest at 1% per month under Section 234A, significantly increasing your tax outgo.
• Belated filing can delay tax refunds and you lose the ability to carry forward certain losses (business, capital losses).
• Missing the December 31 deadline leaves ITR-U as the only option, with additional penalties and no refund claims.

Why It Matters: Missing the ITR deadline leads to penalties, interest, loss of benefits, and financial credibility issues.