Income Tax – What Are the Penalties for Filing Late?

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If you fail to file your income tax return on time, you may face financial consequences, including tax surcharges and interest for late payment.

Can I Still File My Tax Return After the Deadline?

Yes, you can. If you missed the filing deadline, it is still possible to submit your tax return.

The online portal for filing remains accessible even after the deadline.
You can log in to your personal account and complete your 2025 online income tax return for the 2024 tax year.

What Are the Penalties for Late Filing?

Tax Surcharges

Filing your return after the deadline leads to an increase in the amount of tax owed, based on the delay and circumstances:

  • 10% surcharge if no formal notice has been issued.

  • 20% surcharge if the return is submitted within 30 days of receiving a formal notice.

  • 40% surcharge if the return is filed more than 30 days after receiving the notice.

  • 80% surcharge in cases where undeclared or hidden activity is discovered, even without a formal notice.

⚠️ Important: These surcharges apply to the total tax owed, not accounting for any tax already paid through withholdings or prepayments.

Interest on Late Payment

In addition to penalties, interest is charged on late payments.

  • The interest rate is 0.20% per month of delay, amounting to 2.4% annually.

  • This interest accrues until the end of the month in which your return is finally submitted.

💡 Note: The calculation of interest takes into account any payments already made (such as through withholding at source).