New ITR Deadline: What Taxpayers Need to Know Before September 15
The Income Tax Department has extended the last date for filing Income Tax Return (ITR) till September 15, 2025, earlier it was July 31 (According to the CBDT notification). This news has given a big relief to taxpayers. But still, taxpayers are advised to finish filing their ITR before the due date to avoid last-minute rushes and mistakes in the ITR and to have time to correct mistakes if any wrong details are filed.
If any taxpayer has missed the due date, it may lead to interest charges under Section 234A and a late filing fee under Section 234F. But if any taxpayers have missed the due date, they still have chance to file a belated return until December 31 of the assessment year.
Consequences of missing the ITR Filing Deadline: If a taxpayer fails to file an ITR, then they are required to pay-
- Late filing fee of Rs 5,000 but taxpayers whose taxable income does not exceed Rs 5 lakh have to pay a penalty of Rs 1,000.
- A penal interest will also be imposed (Under Section 234A)
- Penal interest of 1% per month under section 234A/B/C
- Increased scrutiny from tax authorities
- Loss of the right to carry forward certain losses to future years
Taxpayers must take care of the following mistakes before filing the ITR Form:
- Choosing an Incorrect ITR Form
- Not verifying ITR
- Entering the Wrong Assessment Year
- Filing Wrong Details
- Incorrect PAN and Bank Details
- E-filing of Returns
- Ignoring Tax Notices
- Not Thinking While Selecting a Tax Regime
- Failure to Claim Exemptions
Advantage to file ITR earlier:
- Faster Refund Processing
- Reduced Chances of Errors
- Avoid Penalties & Interest
- Helps in Loan & Visa Processing
- Loss Carry Forward
Due dates every taxpayer must know for filing ITR:
| Category of Taxpayer | Due Date for Tax Filing – FY 2024-25 (unless extended) |
| Individual / HUF / AOP / BOI | 15th September 2025 |
| Businesses (requiring audit) | 31st October 2025 |
| Businesses requiring transfer pricing reports | 30th November 2025 |
| Revised Return | 31st December 2025 |
| Belated/Late Return | 31st December 2025 |
| Updated Return | 31st March 2030 (4 years from the end of the relevant Assessment Year) |