A look at most common income tax penalties as ITR filing deadline approaches
While some penalties carry fixed charges, others are linked to the amount of taxes involved.Here are the five most common ones:Filing ITR after the due date carries a penalty under Section 234F of the Income Tax Act. It can attract a late fee of up to ₹5,000 ( ₹1,000 if the total income does not exceed ₹5 lakh).A delayed filing of a revised return triggers a Section 234-I penalty of ₹1,000 or ₹5,000, depending on income.If the income is under-reported or misreported, the authorities can impose a penalty under Section 270A. Don't wait for the deadline rush,” the IT Department wrote.On-time, accurate ITR filing is one of the simplest ways to stay compliant with tax laws.
- ▪While some penalties carry fixed charges, others are linked to the amount of taxes involved.Here are the five most common ones:Filing ITR after the due date carries a penalty under Section 234F of the Income Tax Act.
- ▪It can attract a late fee of up to ₹5,000 ( ₹1,000 if the total income does not exceed ₹5 lakh).A delayed filing of a revised return triggers a Section 234-I penalty of ₹1,000 or ₹5,000, depending on income.If the income is under-reported o
- ▪Don't wait for the deadline rush,” the IT Department wrote.On-time, accurate ITR filing is one of the simplest ways to stay compliant with tax laws.
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HomeNextA look at most common income tax penalties as ITR filing deadline approachesAny delays past the July 31 deadline, omissions, errors, incorrect disclosures or non-compliance can result in additional financial liabilities.Updated on: Jul 24, 2026, 20:48:16 ISTBy Shivam Pratap SinghPrefer HTon GoogleShare viaCopy link The last date to file the income tax return is fast approaching, and, barring a government extension, not filing by then can result in several penalties and complications with tax compliance.The income tax department has shared different consequences for various defaults or irregularities in tax filing.
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