Business
ITR Deadline Gone: What Will You Pay Now? Know Penalties & Consequences
Last Updated:
Section 234F of the Income Tax Act prescribes a late-filing fee of up to Rs 5,000 for returns filed after the due date.
Section 234A imposes interest at 1% per month or part of a month on the tax liability outstanding from the due date until the date of filing.
If you missed the September 16, 2025, deadline to submit the income tax return (ITR) for AY 2025-26, you can still file. But, it comes at a cost — a late-filing fee, interest on any unpaid tax, and the risk of losing some tax benefits. The window for filing a belated return this year runs only until December 31, 2025, so acting quickly will limit additional interest and penalties.
How much is the late fee?
Section 234F of the Income Tax Act prescribes a late-filing fee of Rs 5,000 for returns filed after the due date. However, if your annual income is below Rs 5 lakh, the late fee is capped at Rs 1,000.
Apart from the late fee, you must pay interest on any unpaid tax. Section 234A imposes interest at 1% per month or part of a month on the tax liability outstanding from the due date until the date of filing. Interest is computed on the balance tax (tax payable after accounting for TDS, TCS and advance tax).
For example, if you owe Rs 50,000 in tax and file three months late, interest under Section 234A would be Rs 50,000 × 1% × 3 = Rs 1,500, in addition to the late fee. If advance tax instalments were short or unpaid, additional interest under Sections 234B and 234C may also apply.
There are non-monetary costs too. Filing a belated return may mean you lose the right to carry forward certain kinds of losses to future years. In practice, that usually means business losses and capital losses cannot be carried forward if the return for the year in which the loss arose is filed late.
If you are owed a refund, filing late does not forfeit the refund itself, but it can delay processing. The income tax department processes refunds after the return is filed and verified; a belated return only restarts that clock. Also, bear in mind that certain features, like switching tax regimes or claiming some deductions, can be restricted or complicated after the original due date, so check the rules that apply to your form and income profile before filing.
What you should do right now
First, calculate your tax liability accurately for the year, accounting for TDS, TCS and any advance tax already paid. If there is tax due, pay the self-assessment tax and any interest before filing — the return will show the tax paid and the portal will accept it. Compute interest under Section 234A (1% per month) from the day after the original due date to the date you file, and include that payment while submitting the belated return.
Next, complete and file the appropriate ITR form online and e-verify the return immediately; an unverified return is treated as if it has not been furnished. The Income Tax Department’s FAQs describe accepted e-verification methods and timelines. Keep receipts of tax payments and verification for your records.
Can you revise a belated return if you spot an error? Yes, a belated return can be revised.
If you miss September 16, file before December 31 to remain compliant for this assessment year. Yes, you will likely pay a late fee and interest at 1% per month on unpaid tax, and you may lose the right to carry forward certain losses. If you are due a refund, file the belated return and e-verify. Refunds are processed only after the return is filed and verified.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 17, 2025, 15:44 IST
Read More
Last Updated:
Shringar House of Mangalsutra IPO Listing, Share Price Today: The stock lists at a premium of Rs 188.5 apiece on the NSE, a 14.2% premium over the IPO issue price of Rs 165.
Shringar House of Mangalsutra IPO Listing Today: Check Share Price.
Shringar House of Mangalsutra IPO Listing Price: Shares of Mumbai-based jewellery firm Shringar House of Mangalsutra Ltd on Wednesday listed at a premium of Rs 188.5 apiece on the NSE, a 14.2% premium over the IPO issue price of Rs 165.
The stock slightly fell after the listing and was trading at Rs 186.12 apiece on the NSE, which is 12.7% higher over the IPO listing price. Finally, the stock ended that day with a 12.05% gain at Rs 184.88 apiece on the NSE.
The price band of the IPO was fixed in the range of Rs 155-Rs 165 per share. The issue received a 60.31x subscription, garnering bids for 1,02,62,35,800 shares as against the 1,70,16,000 shares on offer. The retail and NII participation stood at 27.26x and 82.58x, respectively. The QIB category received a 101.41x subscription.
The issue attracted decent grey market interest, with its pre-listing GMP at Rs 31. Based on this, the stock was expected to be listed at nearly Rs 196, implying an 18.8% premium.
Shringar House of Mangalsutra IPO: Should You Buy, Hold Or Sell?
Shivani Nyati, head of wealth at Swastika Investmart Ltd, said, “Shringar House of Mangalsutra Ltd made an impressive debut on the stock market with a listing gain of approximately 63% over its issue price of Rs 83, getting listed at around Rs 135. The company is engaged in designing, manufacturing, and marketing a diverse range of Mangalsutra using 18k and 22k gold along with stones like American diamonds, cubic zirconia, pearls, and semi-precious stones for its B2B clients.”
It holds a strong presence in its niche segment and is expanding rapidly across key regions in India. “Investors are advised to book partial profits near current levels while holding the balance with a stop-loss set at Rs 115 to manage downside risk,” Nyati added.
The Mumbai-based company’s IPO is entirely a fresh issue of 2.43 crore equity shares, worth Rs 401 crore at the upper end of the price band, with no Offer For Sale (OFS) component.
Proceeds from the fresh issue will be utilised for supporting working capital requirements of the company and general corporate purposes.
Incorporated in 2009, Shringar House of Mangalsutra is engaged in designing, manufacturing, and marketing a diverse range of Mangalsutras adorned with various stones, such as American diamonds, cubic zirconia, pearls, mother of pearl, and semi-precious stones, crafted in 18k and 22k gold.
The company primarily serves its business-to-business (B2B) clients and holds about 6 per cent of the organised Mangalsutra market in India as of 2023, according to the draft papers citing a CareEdge report.
Choice Capital Advisors is the sole book-running lead manager, and MUFG Intime India is the registrar of the issue.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 17, 2025, 10:08 IST
Read More
New Delhi: A shocking case of online fraud has come to light from Hyderabad, where a 52-year-old software engineer from Gachibowli lost Rs 1.21 crore in a stock trading scam. The victim, who believed he was making genuine investments, was tricked into pouring money between August 13 and September 11, only to later discover that he had fallen prey to fraudsters.
How the Fraudsters Trapped Him
The victim was first lured into a WhatsApp group that appeared to share stock market tips. He actively participated in discussions on stock suggestions, chart patterns, QIB trading during pre-market hours of NSE and NASDAQ, and even IPO investments — all through what was falsely presented as an AEGIS-CAP trading account. (Also Read: Urban Company Shares Jump 58% On listing, Make Strong Stock Market Debut On NSE_
From Small Start to Huge Loss
The victim created an account on a website and began applying for stocks and block trade IPOs. He started with an initial payment of Rs 50,000 on September 13, but over the next few weeks, he kept transferring more money eventually losing a total of Rs 1.21 crore.
False Allotments and Blocked Withdrawals
The fraudsters showed him fake share allotments in bulk to gain his trust and kept urging him to invest more. But when he tried to withdraw some money, they insisted he first pay tax on his supposed profits. Even after complying, every withdrawal request was rejected which finally exposed the operation as a fraud. (Also Read: Bank Holiday September 17: Are Branches Closed Or Open In Your City On Account Of Vishwakarma Puja? Find Out)
Scam Exposed and Case Registered
The victim later discovered that the trading platform, supposedly run by individuals named Tarak Sharma and Patrik Martin, was a complete scam built to cheat investors. Trusting it to be genuine, he had already poured his entire money through multiple bank accounts. After realising the fraud, he filed a complaint, and the Cyberabad Cyber Crimes police have now registered a case and begun an investigation.
Business
Gold price prediction today: Where is gold rate headed this week as US Fed meeting in focus? Here’s the outlook – The Times of India
Gold price prediction today: Gold prices are expected to react to the US Federal Reserve policy this week. Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors:Last week saw a blend of inflation trends & political interference which involved Fed independence risk created a wave of uncertainty, boosting safe haven appeal for gold as it continued to hit record highs.In the US, mixed inflation data, cooling labour markets, and weakening consumer sentiment kept expectations of a Fed rate cut in place. In Europe, political instability in France added to economic pressure, while the ECB held rates steady. China grappled with deflationary pressures & Japan prepared for snap elections. Other asset classes included, global equity markets ending the week higher, while US Treasury yields, & the US dollar weakened, while oil prices edged up. Gold recorded repeated all-time highs edging near to $ 3,700 per oz in the current week. Gold ETF investors continued to be heavy buyers continuing their purchase for third consecutive months with net holdings rising steadily. led by Western funds. (YTD Inflows: 472.7 tonnes inflows. Vs 6.8 tonnes outflows in 2024).In India, Gold ETFs recorded inflows of Rs 2,190 crore in August, the largest since January’s Rs. 3,751 crores. Global central banks now own more gold than US Treasuries for the first time since 1996, indicating a substantial shift in their foreign exchange holdings. Gold has already surpassed the euro as the second most important reserve asset after the US dollar. Adjusting for over four decades of inflation the spot price of gold, also surpassed its inflation adjusted peak of $ 850 set on January 21, 1980 which comes to around $3590 per oz.
Gold Price Outlook
The current week remains most crucial for gold as the US Fed may announce its monetary policy on September 17, midnight. It is widely expected that the central bank may go ahead to slash its interest rates by 25 bps, as a slight possibility of a 50 bp cut also exists. Overall possibility of 3 rate cuts persists by the end of the year. Having said that, a summary of economic projections which includes projections on interest rate cuts to be released by the US Fed during the meeting remains crucial to be assessed for further direction in precious metal prices. Overall, a likely hawkish cut could bring in profit booking moves in prices. However, chances of any major correction lower remains’ limited, as the US labour market shows signs of weakening, where major supports lie at around $ 3620 – 3570 zone (CMP $ 3685). On the higher side, prices could turn volatile in the coming session post release of Fed statement as strong upside barriers could persist at around $ 3,720 – 3,750 per oz in spot. This could translate to a level of Rs. 1,12,000 – 1,12,500 // 10 gm on MCX futures contract on a higher side on a weekly basis.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Canadian brand Roots’ Q2 FY25 sales rise 6.3%, DTC growth hits 12.7%
Room-temperature terahertz device opens door to 6G networks
Cardi B’s 4th pregnancy, 1st with Stefon Diggs laid bare
-
Business1 week agoWhat to know about the Hyundai-LG plant immigration raid in Georgia
-
Fashion1 week agoGerman brand Adidas & BAPE unveil new football-inspired collection
-
Fashion5 days agoAcne Studios expands in France with redesigned historic HQ
-
Tech1 week agoYour Favorite Streamer’s DJI Mic Kit Is Just $109 Right Now—$60 Off
-
Tech4 days agoHow a 2020 Rolex Collection Changed the Face of Watch Design
-
Fashion1 week agoUK’s Frasers Group strengthens board with new leadership
-
Fashion4 days agoMexico imposes ADD on footwear originating in China
-
Tech5 days agoCancel Culture Comes for Artists Who Posted About Charlie Kirk’s Death