Profits Tax submitting 2025: Why understanding the difference between Due Date and last Date topics

Submitting your earnings Tax go back (ITR) efficaciously and on time is essential, however many taxpayers still stay confused approximately two critical dates involved within the system: the "Due Date" and the "ultimate Date".

Whilst the income Tax department has extended the deadline for filing the go back for the monetary year 2024-25 to september 15, 2025, specialists endorse against waiting until the closing second. Information the distinction between these dates could help you avoid penalties, hobby, or maybe the loss of tax advantages.

Two crucial Dates You need to recognize in ITR submitting

In keeping with tax expert Balwant Jain, the ITR filing method includes two primary closing dates:

Due Date

Remaining Date (very last cut-off date)

Many taxpayers mistakenly assume that the due date is the final closing date to document their return. But this is not real. Even as lacking the due date comes with its own set of consequences, you can nonetheless report your go back later - however with positive penalties and missed blessings.

What's the Due Date?

For the economic year 2024-25, the unique due date become July 31, 2025. However, the authorities has extended this deadline to september 15, 2025. Submitting by using this date guarantees you can revel in full advantages consisting of carrying forward certain losses and keeping off overdue submitting costs.

What happens if you omit the Due Date?

In case you miss the due date but still file your go back by the last date, that is december 31, 2025, you can avoid the whole lack of the filing opportunity. However, you will face unique outcomes:

Past due submitting costs

A penalty is levied based totally to your taxable earnings.

In case your profits is more than ₹5 lakh, the penalty is ₹5,000.

In case your profits is under ₹five lakh, the penalty is ₹1,000.

Hobby on Tax Payable

You may want to pay interest on unpaid taxes below Sections 234A, 234B, or 234C of the earnings Tax Act.

Loss of carry ahead advantages

In case you've incurred losses in capital gains or business profits, you can't convey them forward in case your go back is filed after the due date.

Interest on Refund Delays

If you're eligible for a reimbursement, delaying the return submitting means losing out at the interest earned on that refund amount.

Remaining Date isn't the same as No deadline

You cannot report an ITR as soon as the remaining date passes. For FY 2024-25, december 31, 2025, is the final date to report your go back. After this, you'll haven't any option to file except the authorities specially opens a window for "condonation of postpone," that is best relevant in very uncommon instances.

Instance: Why filing overdue Can cost You

Take the case of rajeev Sharma, a senior citizen incomes income from bank interest, mutual fund dividends, and stock investments. Considering he's a senior citizen, he isn't always prone to pay strengthen tax. But, if he delays submitting his ITR beyond september 15, 2025, he will nonetheless ought to pay interest at the tax due for the postpone duration and can lose interest on refunds as well. If his taxable income exceeds ₹5 lakh, he could also be chargeable for a ₹5,000 late charge.

Final mind: do not postpone, report Early

Filing your ITR well earlier than the deadline allows you to:

Keep away from closing-minute rush and portal crashes

Make certain accuracy and time for correction

Get quicker processing and faster refunds

Prevent financial penalties and loss of tax blessings

End

Expertise the distinction among the due date and last date for ITR submitting is greater than just a technical detail - it could directly effect your economic health. Filing after the due date invitations consequences, delays refunds, and can result in the lack of critical tax benefits. Therefore, it is constantly better to act early, consult a tax expert if needed, and record your go back on time.

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