Dont Miss It: New Deadline and Penalties for Filing ITR FY 2024-25
The Income Tax Department has extended the deadline for filing Income Tax Returns (ITR) for the financial year 2024-25 (Assessment Year 2025-26). For those whose accounts do not require audit—such as many salaried individuals, pensioners, and taxpayers under presumptive income schemes—the ITR due date is now 15 September 2025, moved from the earlier deadline of 31 July.
For taxpayers whose accounts do require audit (firms, professionals with large turnover, etc.), the usual deadlines remain in place—such as 31 October 2025. There are also later dates for those who have to provide transfer pricing reports.
If you file after the deadline of 15 September for non-audit cases, you face penalties under Section 234F:
In addition, interest under Section 234A may be charged on any tax due that hasn't been paid when it should have been. Late filing may also delay refunds and can disqualify certain benefits, for example, carrying forward business losses or claiming some deductions.
There are growing calls from tax professionals and trade bodies to push the deadline further. Issues cited include delays in getting finalised utility/software formats, frequent glitches in the tax portal, and the burden of complying under new rules (especially for non-corporate entities). However, as of the most recent statements, there has been no confirmation from the government that the deadline will be moved again. The Finance Ministry has indicated that it likely will not be extended beyond 15 September for those in the non-audit category.
In short, this extension gives some breathing room—but missing it can cost you. If in doubt, act sooner rather than later to avoid penalties or complications.
Who This Extension Applies To
- Filers under forms ITR-1 to ITR-4, who are not required to get their accounts audited.
- Individuals, Hindu Undivided Families (HUFs), and professionals/small businesses under presumptive taxation (subject to eligibility and income/turnover limits).
For taxpayers whose accounts do require audit (firms, professionals with large turnover, etc.), the usual deadlines remain in place—such as 31 October 2025. There are also later dates for those who have to provide transfer pricing reports.
Penalties & Consequences of Late Filing
If you file after the deadline of 15 September for non-audit cases, you face penalties under Section 234F:
- If your total income is above ₹5 lakh, the late fee is ₹5,000.
- If income is ₹5 lakh or below, the penalty is ₹1,000.
In addition, interest under Section 234A may be charged on any tax due that hasn't been paid when it should have been. Late filing may also delay refunds and can disqualify certain benefits, for example, carrying forward business losses or claiming some deductions.
Will There Be a Further Extension?
There are growing calls from tax professionals and trade bodies to push the deadline further. Issues cited include delays in getting finalised utility/software formats, frequent glitches in the tax portal, and the burden of complying under new rules (especially for non-corporate entities). However, as of the most recent statements, there has been no confirmation from the government that the deadline will be moved again. The Finance Ministry has indicated that it likely will not be extended beyond 15 September for those in the non-audit category.
What You Should Do Now
- Avoid waiting until the last moment—do your filing ahead of the 15 September deadline if you're eligible.
- Ensure all disclosures and schedules are correctly filled (TDS, Form 26AS, other income sources, etc.).
- If you miss the deadline, you can still file a belated return by 31 December 2025—but the late fee and interest will apply.
In short, this extension gives some breathing room—but missing it can cost you. If in doubt, act sooner rather than later to avoid penalties or complications.