The deadline for filing Income Tax Returns (ITR) for FY 2024-25 is fast approaching. Taxpayers must act before September 15, 2025, to avoid penalties and interest. Here’s everything you need to know.
1. Why the Deadline Was Extended
Earlier, the ITR deadline was July 31, but delays in the release of forms and technical glitches led the government to extend it by 1.5 months. This gave taxpayers more time to file without any penalty, but the extension ends on September 15.
2. Penalties for Late Filing
Missing the deadline can be costly:
- Income up to Rs 5 lakh: Penalty up to Rs 1,000
- Income above Rs 5 lakh: Penalty up to Rs 5,000
Note: Penalties apply even if no tax is due.
Additionally, any unpaid tax attracts interest at 1% per month under Section 234F of the Income Tax Act. Filing late can increase your financial burden significantly.
3. Who Must File by september 15?
The deadline applies to non-audit cases, which include:
- Salaried individuals and pensioners
- Professionals earning up to Rs 50 lakh without audit requirement
- Taxpayers spending Rs 2 lakh+ on foreign travel
- Paying Rs 1 lakh+ on electricity bills
- Holding Rs 1 crore+ in current accounts
- Business income exceeding Rs 10 lakh
- TDS/TCS exceeding Rs 25,000 (Rs 50,000 for senior citizens)
- Residents with foreign assets or beneficiaries of foreign assets
Even if your taxes are already paid, filing your ITR ensures compliance and avoids legal issues.
4. How to Avoid Penalty
- File early: Don’t wait until the last minute to avoid portal crashes
- Use official apps: Income Tax Department apps like AIS App or Income Tax Department App make mobile filing simple
- Verify your details: Check pre-filled information for accuracy
- E-verify: Complete filing with Aadhaar OTP, net banking, or wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital signature
Filing early also speeds up refund processing and keeps your financial records clean.
5. Key Takeaways
- Deadline: september 15, 2025
- Penalty: Rs 1,000–Rs 5,000 depending on income
- Interest: 1% per month on unpaid tax
- Who should file: Non-audit cases and high-value transactions
Missing the deadline can cost you thousands. File now to stay compliant and stress-free!
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk..jpg)
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