Taxpayers should do this work before ITR deadline or else they will be fined up to Rs 5000!
Income Tax Return Filing Deadline 2025: This year, income tax filers have got some more relief. Due to the new tax system, the government has extended the deadline so that everyone can get time. But if you still delay, you may have to pay heavy penalty and extra tax. So file ITR on time and avoid unnecessary trouble.
Income Tax Return Filing Deadline 2025: If you have not filed your income tax return yet, then this news is for you. The government has extended the last date for filing ITR to 15 September 2025. This is especially a relief for those who were not able to file till now due to the new changes in the tax system.
Why has the ITR filing deadline been extended?
This time some changes have been made in the income tax return form, such as the new tax system which has been implemented recently. It took time to update these changes in the income tax portal, so CBDT i.e. Central Board of Direct Taxes decided to give more time to taxpayers to file returns so that filing is easy and convenient.
What is the last date for which categories?
Not every taxpayer has the same deadline. According to the Income Tax Act, different dates are fixed for everyone.
- For individuals, HUFs (Hindu Undivided Families), AOPs and BOIs who do not require audit, the new deadline is 15 September 2025.
- For business units which are required to get audited, the last date is 31 October 2025.
- If your company has to prepare a transfer pricing report (such as in international transactions or certain domestic deals), then your deadline is 30 November 2025.
- If a person is filing a return late or revising a previously filed one, then its last date is 31 December 2025.
What happens if you are late in filing ITR?
If you are unable to file Income Tax Return (ITR) by the due date, you will get another chance under Section 139(8A). Under this section, you can file updated return and now its time limit has also been increased to 48 months which was earlier 24 months. During this time, you may have to pay 60% to 70% extra tax while filing ITR.
How much penalty will have to be paid for late ITR filing?
If you file ITR late, two major sections can be applicable, Section 234A and Section 234F.
- Under Section 234A, if you have not paid the tax dues, then you will have to pay 1% interest on that amount every month.
- Under Section 234F, a penalty of up to Rs 5000 will have to be paid on late filing, if your income is more than Rs 5 lakh. If your income is less than Rs 5 lakh, then this penalty will be Rs 1000.
- If you have already paid self-assessment tax and now only ITR is left to be filed, then interest will not have to be paid under Section 234A, provided you file the return by the extended date i.e. 15 September 2025.
This news is important for all those who are employed, freelancers, or run a small business. Paying taxes on time is not only a legal responsibility but also an important part of your financial planning.
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