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News Topical, Digital Desk : ITR 2025: People are often confused about the dates for filing Income Tax Return (ITR). Many people think that ITR cannot be filed after the 'due date' i.e. the deadline has expired, but the reality is something else.
Which dates are important?
The initial due date for filing ITR for assessment year 2025–26 (financial year from 1 April 2024 to 31 March 2025) was 31 July 2025, which has now been extended to 15 September 2025. This is the date after which ITR filing will go into the 'late filing' category. If a person is unable to file ITR even by 15 September, he will still have the opportunity to file a 'belated return' till 31 December 2025. If a person is unable to file even by 31 December 2025 due to certain circumstances, he can also file an 'updated return' (subject to special conditions).
- If you have suffered a loss which you want to carry forward and deduct it from your income, then that opportunity will be lost.
- If the entire advance tax is not paid by March 31, 2025, then interest will have to be paid on the outstanding tax amount, even if you pay it later.
- Even if you are a senior citizen (who is not required to pay advance tax), interest will have to be paid on the outstanding amount from September 15, 2025 till the filing date.
- If a refund is processed, the interest payable on it may be reduced due to the delay.
Late fees will also be applicable:
- If the taxable income is more than Rs 5 lakh, the late fee is Rs 5,000.
- There is a penalty of up to Rs 1,000 for income of Rs 5 lakh or less.
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