The Central Government has extended the deadline for filing Income Tax Returns (ITR) for the financial year 2024-25 (assessment year 2025-26) to September 15, 2025. This extension is applicable to individuals and taxpayers who are not subject to audit. The move comes in response to recent updates in ITR forms and digital filing utilities, giving taxpayers more time to comply.Taxpayers who miss this deadline can still file a belated return until December 31, 2025. However, late fees apply—₹5,000 for those with incomes above ₹5 lakh and ₹1,000 for those earning below that threshold. In addition, interest at 1% per month will be charged on unpaid tax amounts. Importantly, missing the initial deadline could result in losing the ability to carry forward certain losses, such as business or capital market-related losses.
As per current rules, filing is mandatory for those with income over ₹2.5 lakh under the old regime or ₹3 lakh under the new regime. Tax experts strongly recommend filing well before the deadline to avoid last-minute errors and penalties. Taxpayers can visit the official Income Tax e-filing portal or seek advice from certified professionals for assistance.