Income-tax returns: It is tax season again, and particularly for salaried and business taxpayers, please note that these are the last few days to file your income tax returns or ITR without incurring a late penalty.
What is the late date for filing your ITR?
The I-T department in May announced that it is this year extending the due date to file ITR for Assessment Year 2025-26 (i.e. FY 2024-25) to September 15, 2025, from July 31, 2025.
This is a bigger extension than the usual extension granted till August 31, 2025 in previous financial years.
Why did CBDT extend date for filing ITR?
In a notification issued by the Central Board of Direct Taxes (CBDT) on May 27, the department said that the extension was introduced due to the “extensive changes introduced in the notified ITRs and considering the time required for system readiness and rollout of ITR utilities for AY25-26”.
“The notified ITRs for AY25-26 have undergone structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting. These changes have necessitated additional time for system development, integration, and testing of the corresponding utilities,” the CBDT said.
“This extension is expected to mitigate the concerns raised by stakeholders and provide adequate time for compliance, thereby ensuring the integrity and accuracy of the return filing process,” it added.
Could ITR date get further extension? Experts say…
Some tax experts that Livemint spoke to said they and taxpayers are facing problems with filing ITR for FY24-25.
“It is taking double the time from the taxpayer’s side to fetch necessary details, especially to be able to claim deductions. For instance, to claim HRA, taxpayers now need to provide all necessary details such as PAN, property address, and place of property. These details were earlier meant to be provided to the employer, but now the ITR form also requires these inputs. Additionally, to claim a deduction against insurance, one needs to write the policy number as well,” Mumbai-based CA Chirag Chauhan said.
CA Sagar Joshi wrote on X that the income tax portal was not allowing digital signature certificates (DSC), and users are facing errors regarding that.
At present there is no official word from the CBDT on further extension on the deadline, so taxpayers should try and complete their ITR by September 15, this year.
Delayed returns: What this means and last date, explained
Meanwhile, taxpayers who miss the September 15 deadline can still file a delayed return by December 31, 2025, for FY24-25 / AY25-26.
While you are allowed to file delayed ITR till the year-end, please note that these filings will attract penalties between ₹1,000 and ₹10,000 depending on the duration of delay, as follows:
- For individuals with an income above ₹5 lakh, filing a belated return will incur a penalty of up to ₹5,000.
- For taxpayers with a net taxable income of ₹5 lakhs or lower, the maximum penalty for filing a belated ITR is ₹1,000.
Also, please note that the more you delay your ITR filing, such returns may lose out on certain deductions for lower tax, and would likely be subject to increased scrutiny from the Income Tax Department.
Disclaimer: This article is for general information purposes only and should not be considered as professional tax advice. For personalised guidance, please consult a certified Chartered Accountant or a qualified tax advisor.