Last Chance to Claim Your Income Tax Refund: File Your ITR by December 31

If you have not filed your Income Tax Return (ITR) for Assessment Year (AY) 2025-26, December 31, 2025, is your last opportunity. Filing by this date allows you to claim your income tax refund. Missing it means your refund will be lost permanently.

In simple terms, if tax was deducted from your income and you don’t file your return by December 31, you will not get that money back.

What Is a Belated Return?

A belated return is filed when you miss the original ITR deadline. For this year, the original due date was September 16, 2025. Taxpayers who missed it can still file a belated return, but only until December 31, 2025.

After this date, filing a belated return will no longer be allowed.

Late Filing Fee You May Have to Pay

Filing a belated return comes with a penalty under Section 234F:

• ₹5,000 if your total income is above ₹5 lakh
• ₹1,000 if your total income is ₹5 lakh or below

This fee is mandatory and must be paid while filing the return.

Why December 31 Is So Important

Missing this deadline has serious consequences:

• Your income tax refund will be forfeited
• You cannot carry forward losses (like capital or business losses)
• You may face penalties or notices from the tax department
• You will not get interest on your refund amount

Who Should Definitely File Before December 31

You should not miss this deadline if:

• Excess TDS was deducted from your salary or bank interest
• You are a senior citizen whose tax was deducted, but the return was not filed
• You invested in shares or mutual funds, and income appears in AIS or Form 26AS

How to File a Belated Return

The filing process is the same as a normal ITR:

• Select the correct ITR form
• Match your income, TDS, and investment details
• E-verify the return after filing, or it will be treated as invalid

Read More:Tax Reforms Recap 2025: Key Changes That Reshaped India’s Tax Framework! 

Can You File After December 31?

Yes, an updated return can be filed under Section 139 within 48 months from the end of the assessment year. However, it comes with additional tax and penalties and is not meant for claiming refunds easily.

Conclusion

If tax has already been deducted from your income, December 31 is your final chance to get that money back. Missing this deadline means losing your refund forever. Don’t delay, check your details and file your ITR before it’s too late.

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