Filing Income Tax Returns (ITR) on time is a crucial responsibility for every taxpayer. With the 15 september 2025 deadline approaching, experts are urging individuals to file early to avoid penalties, delays, and unnecessary notices from the Income Tax Department.

1. Why Timely Filing Matters

· Prevents late fees under Section 234F

· Avoids interest on unpaid taxes under Sections 234A and 234B

· Ensures faster processing of refunds

· Reduces chances of tax notices or scrutiny

2. Common Reasons Taxpayers Receive Notices

· Incorrect or missing information in ITR

· Mismatch in TDS and Form 26AS

· Failure to report all income sources

· Late filing or non-payment of advance tax

3. Steps to File ITR Before the Deadline

1. Gather Documents: Form 16, bank statements, investment proofs, TDS certificates

2. Choose the Correct ITR Form: Based on salary, business income, capital gains, etc.

3. Check TDS and Advance Tax: Reconcile with Form 26AS

4. File Online: Use the Income Tax e-filing portal or authorized platforms

5. E-Verify Your ITR: Via Aadhaar OTP, net banking, or wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital signature

4. Benefits of Filing Early

· Time to correct errors before submission

· Reduces stress from last-minute portal glitches

· Ensures timely credit of refunds

· Avoids unnecessary follow-ups from the Income Tax Department

5. Penalties for Late Filing

· Late fee: ₹5,000 if income ≤ ₹5 lakh; ₹10,000 for higher incomes

· Interest on unpaid tax: 1% per month under Section 234A

· Legal complications: Non-filing may trigger notices or scrutiny

6. Expert Tips to Avoid Notices

· Always verify personal and bank details

· Declare all sources of income accurately

· Claim eligible deductions, exemptions, and rebates

· Keep supporting documents ready for verification

7. Final Advice

With only a few days left, taxpayers are urged to file returns promptly. Timely filing not only prevents penalties but also ensures peace of mind and smooth financial management.



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.

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Balasahana Suresh

15/09/2025 10:03 AM