ITR Filing, Sept. 2 -- With less than two weeks remaining to file income tax returns (ITR), taxpayers should report their taxable income before the 15 September deadline. But what if you miss the deadline? In case you fail to file your income tax returns on time, the Income Tax Department still allows you to submit them later, but a penalty will be levied.

On missing the ITR deadline, taxpayers can file a belated return on or before December 31 of the applicable assessment year. For AY 2025-26, the due date to file a belated return is on or before 31 December 2025.

A belated return can be filed by a taxpayer who missed the original filing deadline after paying a penalty under Section 139 (4) of the Income Tax Act.

Taxpayers must note t...