⚠️ TAX COMPLIANCE ALERT — FINAL DEADLINE: 31 DECEMBER

31st December is the last statutory date to file or revise your Income Tax Return (ITR) for FY 2024-25 (AY 2025-26) under the Income-tax Act, 1961.

Taxpayers who have not filed their return — or who need corrections in an earlier-filed return — must complete filing / revision before the deadline to avoid penalties, interest, and compliance exposure.

Mandatory Late Fees & Interest (If ITR not filed within time)

Section 234F — Late Filing Fees

• Total Income above ₹5,00,000 ➡ Late filing fee up to ₹5,000

• Total Income up to ₹5,00,000 ➡ Late fee capped at ₹1,000

• Income below basic exemption limit ➡ Late fee generally not applicable

Interest Liability (Separate from Late Fee)

Interest @ 1% per month or part thereof may apply under: • Section 234A — delay in filing • Section 234B — short payment of advance tax • Section 234C — deferment of advance tax instalments

Interest continues until tax dues are fully paid.

🚨 What happens after 31 December?

After the deadline:

• Belated / Revised ITR cannot be filed
• Only Updated Return u/s 139(8A) may be permitted, with:

– Additional tax @ 25% or 50% on tax + interest – Loss carry-forward may not be allowed – Refund benefits may not be available

Delay may also impact loan processing, tenders, financial verification and credit assessments.

FINAL DEADLINE: 31 December ✔ File or revise your ITR immediately to remain fully compliant.

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