By Neelanjit Das

Copyright indiatimes

The deadline for filing your ITR is still three days away, specifically on September 15, 2025, but don’t take it lightly. Sure, the ITR filing due date was extended from July 31, 2025, but you shouldn’t count on it it being extended again.Income Tax GuideIncome Tax Slabs FY 2025-26Income Tax Calculator 2025New Income Tax Bill 2025If you miss the ITR filing deadline, the first thing you’ll face is a late fee of up to Rs 5,000. By paying this fee, you can still file a belated ITR until December 31, 2025 for the financial year 2024-25. However, the real issue isn’t just the late fee; it’s that you had taxable income and didn’t file your ITR. If you also miss the belated ITR deadline, you could run into legal trouble, including prosecution. Just last year in 2024, a woman in Delhi was sentenced to jail for not filing her ITR.Also read: Woman gets 6-month jail for not filing ITR; who has to mandatorily file income tax return, consequences of not filingWhat are the consequences of not filing ITR on time?Chartered Accountant Abhishek Soni, co-founder, Tax2Win, says that missing the original ITR deadline can lead to several consequences:Late filing fee: Under Section 234F, a late fee of up to Rs 5,000 may be levied for belated ITRs (ITR filed after original deadline). If the income is less than Rs 5 lakh, the penalty is Rs 1000, and if the income exceeds Rs 5 lakh, the penalty is Rs 5000. Interest on tax due: Interest under Sections 234A (for late filing), 234B (for shortfall in advance tax), and 234C (for deferment of advance tax) may apply.Loss of carry forward benefits: Only unabsorbed depreciation and house property loss can still be carried forward even if ITR is filed late.Delayed refunds: Filing ITR after the due date may result in delayed processing of refunds.Increased scrutiny: Late ITR filings may attract closer scrutiny from the Income Tax Department.Also read: Capital gains: Latest LTCG and STCG rates and holding periods for various assets for AY 2025-26Can individual salaried and self-employed taxpayers with no business income change their tax regimes while filing a belated ITR?Soni says: “No. If an individual files their ITR after the original due date (i.e., a belated return), they cannot switch between the old and new tax regimes. The option to choose or change the tax regime is only available when filing the ITR within the original due date. Once the deadline is missed, the regime selected in the original filing cannot be altered in the belated return.”Also read: Income Tax Department finds Rs 5 crore cash in his house; Know how a 2008 circular saved him from prosecutionCan individual salaried and self-employed taxpayers with no business income change their tax regimes while filing a revised ITR?Revised ITR can be filed if only you have filed an original ITR on or before the deadline i.e. September 15, 2025 for FY 2024-25 (AY 2025-26).CA Hitesh Jain, Partner – Direct Tax, N. A. Shah Associates LLP, explains that as per Section 115BAC, as applicable from A.Y 2024-25 onwards, the new tax regime is the default tax regime. So if a taxpayer wants to opt for the old regime, then ITR needs to be filed before the due date prescribed under Section 139(1) which is September 15, 2025 for FY 2024-25 (AY 2025-26).Also read: Pay more than Rs 20,000 in cash for these transactions and get ready to pay up to 100% penalty, says tax deptJain says: “Hence if the original ITR is filed before the due date prescribed under Section 139(1), then taxpayers can revise the ITR by switching from the new regime to the old regime. Accordingly, salaried taxpayers (who do not have income from business or profession) can switch between the new and old tax regimes while filing a revised return, provided the revised return is filed within the prescribed time limit.”Also read: She sold her house for Rs 2.7 crore to buy seven new flats and paid no income tax, wins case in ITAT Delhi; Know how