Penalty Fee Applicable for FY 2024-25 for Late Filing of ITR:

Penalty Fee Applicable for FY 2024-25 for Late Filing of ITR The Income Tax Department has extended the deadline for filing Income Tax Return (ITR) for Non-Audit Cases for the Financial Year 2024–25 (Assessment Year 2025–26) is now been extended to September 15, 2025, from July 31, 2025. This extension has been announced to adapt or adjust recent amendments in tax laws and the necessary updates to the department's technology platform. Below is listed the ITR Late Fees Applicable under section 234F when the ITR is filed late.

Income Tax Return Late Fees:

• If Income is Upto Rs. 5 L: Rs. 1000 [Section 234F]
• If Income is More than Rs. 5 L: Rs. 5000 [Section 234F]
• No Late Fees will be applicable if taxpayers are not required to file ITR. [Section 234F is applicable to Taxpayers who were liable to file a Return under Section 139]

Section 234F: Fee for Delay in Filing Income Tax Return

• If a person required to file an income tax return under Section 139 fails to do so within the specified time under sub-section (1), a fee of Rs. 5,000 will be charged. However, if the person’s total income does not exceed Rs. 5 lakh, the maximum fee payable will be limited to Rs. 1,000.
• This provision is applicable to income tax returns required to be filed for assessment years starting from April 1, 2018, onwards.

Section 234A: Interest for Late Filing or Non-Filing of Return

The introduction of Section 234F does not alter the applicability of Section 234A. Under Section 234A, interest at the rate of 1% per month (or part of a month) is charged on the unpaid tax amount if it is not paid within the prescribed due dates.

• If the return is filed after the due date, interest is calculated from the due date until the date of actual filing.
• If the return is not filed at all, interest is charged from the due date until the date the assessment order is issued by the assessing officer.