The penalty for late filing of Income Tax Return (ITR) in India for the assessment year 2025-26 is as follows:

• If total income is up to Rs 5 lakh, the late filing penalty is Rs 1,000.
• If total income exceeds Rs 5 lakh, the penalty rises to Rs 5,000.

This penalty applies if the ITR is filed after the due date of September 15, 2025, but before the extended deadline of December 31, 2025, for belated returns. Additionally, interest at 1% per month is charged on any unpaid tax amount until it is paid. Late filing also results in the loss of certain benefits: certain losses (capital or business) cannot be carried forward, eligibility for some exemptions and deductions may be lost, and there is no option to switch tax regimes after the deadline. Missing the belated return deadline could lead to legal consequences including prosecution.