The penalty for late filing of Income Tax Return (ITR) in India for the Assessment Year 2025-26 under Section 234F is:

• Rs 5,000 for taxpayers with total income above Rs 5 lakh.
• Rs 1,000 for taxpayers with total income up to Rs 5 lakh.

Additionally, interest at 1% per month is charged on any unpaid tax from the original due date until the date of filing. Belated returns can be filed up to December 31, 2025, but with these penalties. Late filing also results in the loss of certain benefits such as carry forward of losses and the inability to switch tax regimes.