ITR Filing Last Date FY 2024-25 (AY 2025-26) – Everything You Need to Know:
- Details
Filing your Income Tax Return (ITR) is a crucial responsibility for every taxpayer. To avoid penalties and ensure smooth compliance, it is essential to stay updated with the latest deadlines and requirements. This blog simplifies the ITR filing process for the Financial Year (FY) 2024-25 (Assessment Year 2025-26) and helps you understand key aspects of tax filing.
When is the Last Date to File ITR?
For individuals and non-audit taxpayers, the due date to file ITR is 31st July 2025. Missing this deadline means you can still file a belated return by 31st December 2025, but with penalties and interest charges.
For businesses that require audits, the due date extends to 31st October 2025.
Income Tax Filing Due Dates for FY 2024-25 (AY 2025-26):
|
Category of Taxpayer |
Due Date for Tax Filing |
|
Individual |
31st July 2025 |
|
Businesses |
31st October 2025 |
|
Revised return |
31st December 2025 |
|
Belated/late return |
31st December 2025 |
|
Updated return |
31 March 2030 (4 years from the end of the relevant Assessment Year) |
What Happens If You Miss the ITR Filing Deadline?
1. Interest Charges: As per Section 234A, a late submission will result in 1% interest per month or part thereof on the unpaid tax amount.
2. Late Fee Penalty (Section 234F):
|
Total Income |
Penalty Amount |
|
Below Rs. 5 Lakh |
Rs. 1,000 |
|
Above Rs. 5 Lakh |
Rs. 5,000 |
What If You Miss the ITR Deadline?
1) Filing a Belated Return: You can file a belated return after the due date but before 31st December 2025. You will be liable for interest and penalty. You cannot carry forward losses to the next financial year.
2) Filing an Updated Return: If you miss the belated return deadline, you can still file an Updated Return (ITR-U) until 31st March 2030. This is subject to specific conditions set by the Income Tax Department.
What If There Are Mistakes in Your ITR?
Revising Your Return: If you have already filed your return but made an error, you can file a Revised Return until 31st December 2025.
Example: Mr. X files his return on 30th June 2025 but realizes on 1st August that he forgot to claim deductions. He can revise his return until 31st December 2025.
Penalty for Late Filing (Section 234F):
|
e-Filing Date |
Total Income below Rs 5 Lakh |
|
31st July 2025 |
Rs 0 |
|
Between 1st August 2025 to 31st December 2025 |
Rs 1,000 |
Key Takeaways:
- File your ITR before 31st July 2025 to avoid penalties.
- If you miss the deadline, you can still file a belated return by 31st December 2025.
- If you make an error, revise your return before 31st December 2025.
- If you miss all deadlines, you can file an updated return by 31st March 2030.
Staying informed and filing your ITR on time will save you from unnecessary penalties and help you maintain financial compliance. Happy filing!
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