Business
Missed ITR Filing By September 15? Here’s What You Can Do
Every year the government sets a deadline to file your Income Tax Returns (ITR). The date this year is September 15. If you have missed filing your ITR and is confused whether you can still file after the deadline and what the consequences will be, here’s all you need to know.
Taxpayers can still file their ITR even after the due date by filing a belated return. The Income Tax Department allows this option so that people who missed the deadline can still report their income and pay taxes properly. (File Photo)
However, this late filing comes with some disadvantages. (File Photo)
If you miss the deadline, you may have to pay a penalty under Section 234F of the Income Tax Act. (File Photo)
If your total income is above 5 lakh, the penalty can be up to 5,000 (File Photo)
If your total income is below 5 lakh, the penalty is 1,000 (File Photo)
This penalty is charged while filing your belated return. (File Photo)
Apart from the penalty, you also have to pay interest on any unpaid tax amount under Section 234A. The interest is usually calculated at 1% per month from the due date until the date you actually file and pay. (File Photo)
Another disadvantage of late filing is that you cannot carry forward losses to future years if you miss the deadline. (File Photo)
With this, you lose the chance to save tax in the upcoming years by adjusting past losses. However, losses from house property can still be carried forward. (File Photo)
Additionally, the government has set a final date for filing belated returns. For the current assessment year, you can file your ITR until December 31, 2025. After this date, you cannot file for that year at all. (File Photo)
Crude rose back above $100 a barrel as the US and Iran clashed over bringing the conflict to an end.
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President Donald Trump said he’s considering sending the National Guard to U.S. airports, two days after the administration deployed Immigration and Customs Enforcement agents to several major U.S. airports following hourslong waits for travelers because of the partial government shutdown.
In a Truth Social post Wednesday, Trump blamed Democrats for the shutdown, which began Feb. 14.
“Thank you to our great ICE Patriots for helping. It makes a big difference,” he wrote in his post. “I may call up the National Guard for more help.”
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Monday, March 23, 2026.
Elijah Nouvelage | Bloomberg | Getty Images
More than 11% of TSA officers called out on Wednesday and over 450 have quit since the shutdown started, the Department of Homeland Security said.
Elevated absences of Transportation Security Administration officers, who are required to work though they’re not getting paid during the shutdown, have contributed to long lines at major U.S. airports, including in Atlanta, Houston and New York.
The DHS, which oversees both ICE and and the TSA, said the ICE agents will “support airports facing the greatest strain” but the department didn’t respond to requests for comment on what the ICE agents’ duties are. ICE agents are getting paid in the shutdown.
Airlines have been warning customers about potentially long security lines, while executives grow increasingly frustrated with lawmakers about the impasse. On Tuesday, Delta Air Lines said it suspended its airport escorts and other special services for members of Congress and their staff because of the ongoing partial shutdown of the DHS.
The shutdown comes as Democrats in Congress have demanded changes to how federal immigration enforcement operates in exchange for releasing DHS funding after two U.S. citizens were shot and killed by ICE officers in Minneapolis.
Low-income families are being offered help with the cost of food during the Easter holidays.
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Oil prices volatile as Trump talks up Iran negotiations
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