If you miss the Income Tax Return (ITR) deadline, which is September 15, 2025, you can still file a belated return by December 31, 2025, but there are several consequences.

Penalties

• A late fee under Section 234F applies: Rs 5,000 if your income exceeds Rs 5 lakh, and Rs 1,000 if it is below Rs 5 lakh.
• Interest at 1% per month under Section 234A is charged on any unpaid tax from the original due date until filing.

Other Consequences

• You lose the ability to carry forward some losses (except house property loss and unabsorbed depreciation) to future years.
• You may lose eligibility for certain exemptions and deductions.
• You cannot switch between old and new tax regimes after the deadline.
• Filing belated returns may lead to delayed processing of refunds.
• Late filers may face increased scrutiny from the Income Tax Department.
• Missing both the deadline and the belated filing deadline could lead to legal complications, including prosecution.

In summary, missing the ITR deadline triggers penalties, restriction of tax benefits, delayed refunds, and possible legal issues, but belated filing is still allowed with these costs and limitations until December 31, 2025.