What a late ITR actually costs

Two meters run after the due date. Section 234F levies a flat late fee: ₹5,000, reduced to ₹1,000 when total income is up to ₹5 lakh, and nil below the basic exemption limit. Section 234A adds simple interest at 1% for every month, or part of a month, on tax that remains unpaid.

The bigger cost is what you lose

Certain losses cannot be carried forward on a belated return, and refunds sit unclaimed until you file. Belated returns for AY 2026-27 close on 31 December 2026 — after that only the ITR-U route with additional tax remains. The mechanics are in our belated and revised return guide, or hand the whole thing to a CA on WhatsApp.