What happens if you don't file ITR?
The immediate costs
A 234F late fee plus 234A interest apply the moment the due date passes. If you had a refund due, it is delayed and you lose the interest the department would otherwise pay you on it.
The escalating consequences
Continued non-filing invites a Section 142(1)/148 notice, and the assessing officer can complete a best-judgment assessment under Section 144. Wilful failure to file when tax is due can attract prosecution under Section 276CC with imprisonment in extreme cases.
Related questions
Can I still file after the deadline?
Yes — you can file a belated return under Section 139(4), generally up to 31 December of the assessment year, with the late fee and interest. An updated return (ITR-U) is allowed even later, with additional tax.
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General information for AY 2026-27, not professional advice. Rules change with each Finance Act / notification and depend on your facts — verify with a licensed CA or advocate before acting.