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ITR Late Filing Penalty Calculator

Penalty Calculator

ITR Late Filing Penalty Calculator

Calculate exact penalties, interest, and late fees based on Indian compliance law

Missing the Income Tax Return deadline has three separate financial consequences: a flat late filing fee, interest on any unpaid tax, and the permanent loss of loss carry-forward rights.

The late filing fee under Section 234F is Rs. 10,000 for income above Rs. 5 lakh (Rs. 1,000 if income is below Rs. 5 lakh). For companies and LLPs, the fee is Rs. 10,000 regardless of income. This is a flat amount - not per day.

Interest under Section 234A accrues at 1% per month on outstanding tax from the original due date. Unlike the late fee, this continues to grow every month until the tax is actually paid. A company with Rs. 5 lakh of unpaid tax pays Rs. 5,000 per month in Section 234A interest.

The loss that cannot be quantified: if a company or LLP made a loss this year and files the ITR after October 31, it permanently loses the right to carry that loss forward against future profits. That tax benefit - potentially lakhs of rupees over the next 8 years - is gone forever. The calculator does not include this because it depends on your specific loss amount, but it is often the largest cost of filing late.

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How to Use This Calculator

Due dates:

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Individual ITR (non-audit): July 31

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Company (all cases): October 31 - statutory audit is mandatory for all companies

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LLP (no audit required): July 31

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LLP (audit required - turnover above Rs. 1 crore): October 31

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Business with tax audit: October 31

What the calculator shows:

Late filing fee (flat) + Section 234A interest (monthly on unpaid tax) + Section 234B interest if advance tax was short-paid.

What it does not show:

Loss carry-forward forfeiture. If you have business losses this year, calculate separately what you lose by filing late - often far more than the penalties shown.

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Frequently Asked Questions

Rs. 5,000 if filed after the due date but before December 31 of the assessment year, for income above Rs. 5 lakh. Rs. 1,000 if income is Rs. 5 lakh or below. For companies and LLPs, Rs. 10,000 applies. After December 31, the same fees apply but filing is no longer possible without special circumstances.

October 31 for all Pvt Ltd and Public Ltd companies, regardless of turnover. Statutory audit is mandatory for all companies (Companies Act 2013), so the extended deadline always applies.

1% per month on outstanding tax liability from the original due date until the date of actual payment. It is calculated on a monthly basis (not daily) and continues even after you file the return, until the tax is paid.

Under Section 139(3) of the Income Tax Act, business losses and capital losses can only be carried forward if the ITR is filed by the due date. Filing even one day late means the loss cannot be offset against future profits - that tax benefit is permanently forfeited.

Not normally. December 31 of the assessment year is the last date for filing a belated return. After that, you need either a specific departmental notice or the Commissioner's approval. Any pending refund also cannot be claimed after this date.
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How we reviewed this page

The penalty amounts, deadlines, and regulatory requirements on this page are sourced directly from official government portals. We do not use secondary sources. When regulations change, we update the page.