Hi everyone, I’m an individual taxpayer with income above ₹50L (New Tax Regime) and I've missed my original filing deadlines for last 2 years. I’m trying to understand the exact "cliff dates" where my penalties will jump to the next level. Could any experts here confirm if this progression is correct? For AY 2024-25 (FY 23-24): The Updated Return (ITR-U) Jump I am currently looking at an Updated Return (u/s 139(8A)). My current computation shows a 25% additional tax penalty (roughly ₹1.44 Lakhs). Current Phase: If I file by March 31, 2026, is the penalty strictly 25% of the aggregate (Tax + Interest)? The Jump: Does this penalty automatically double to 50% on April 1, 2026? Are there any other slabs (like 60% or 70%) I should be aware of for this specific year? For AY 2025-26 (FY 24-25): The "Wall" on Dec 31st I missed the July/Sept deadline and am now in the Belated Return window. Dec 31, 2025 Deadline: If I file before this date, is my only penalty the ₹5,000 late fee (u/s 234F)? The Blackout Period: If I miss Dec 31, 2025, am I correct that I cannot file at all until April 1, 2026? The Penalty Cliff: Once the window re-opens in April 2026 for ITR-U, does that ₹5,000 fee instantly turn into a 25% penalty on my total tax liability? I'm basically trying to figure out how much "waiting" will cost me at each stage. Any confirmation on these specific dates would be huge. Thanks in advance!
1. For FY 23-24, no other slabs. You can file till Mrach 27 with additional tax liability of 50%. No other slabs. After March 27 you won't be able to file the return.
2. For FY 24-25, your understanding is correct.
If you want I can help.you in filling the return
For AY 2024-25, ITR-U can be filed within the period of 4 years from the end of the relevant assessment year:
Till 31.03.2026 - Additional tax@ 25%
On or after 01.04.2026 till 31.03.2027 - Additional tax@ 50%
On or after 01.04.2027 till 31.03.2028 - Additional tax@ 60%
On or after 01.04.2028 till 31.03.2029 - Additional tax@ 70%
For AY 2025-26
- Belated return can be filed till 31.12.2025 with a fine of Rs.5,000
- ITR-U can be filed within the period of 4 years from the end of the relevant assessment year
Till 31.03.2027 - Additional tax@ 25%
On or after 01.04.2027 till 31.03.2028 - Additional tax@ 50%
On or after 01.04.2028 till 31.03.2029 - Additional tax@ 60%
On or after 01.04.2029 till 31.03.2030 - Additional tax@ 70%
For detailed discussion you may opt for phone consultation
AY 2024-25 (FY 2023-24): File your ITR-U on or before 31 March 2026 and your penalty stays at 25% of the aggregate tax plus interest (approximately ₹1.44 lakh as you've calculated). However, the moment you cross into April 2026, this penalty automatically doubles to 50%, costing you an additional ₹1.44 lakh. There are no 60% or 70% slabs for this assessment year under the current rules; those higher slabs only apply to AY 2025-26 onwards if you delay filing through later periods.
AY 2025-26 (FY 2024-25): You have until 31 December 2025 to file a belated return, and your only penalty will be ₹5,000 under Section 234F plus interest on unpaid tax. However, if you miss this date, the portal closes entirely from 1 January 2026 through 31 March 2026—you cannot file anything during this blackout period. Once 1 April 2026 arrives and ITR-U becomes available, the ₹5,000 fee disappears but is replaced by a 25% additional tax on your total tax liability, which then escalates to 50%, 60%, and 70% if you delay further into subsequent years. Essentially, waiting from 1 January 2026 to file on 1 April 2026 costs you significantly more than filing before 31 December 2025.
Bottom line: File AY 2024-25 before 31 March 2026 to avoid an extra ₹1.44 lakh; file AY 2025-26 before 31 December 2025 to avoid the filing blackout and subsequent 25%+ penalties.
Hope you find the information helpful. You are free to contact me for further discussion.If you could spare two minutes of your time to write a review, It would be really grateful and very happy to read it.
Thank you.
