ITR Filing 2025: Deadline Extended to Sept 15 for Most Taxpayers
Deadline for FY 2024–25 ITR extended from July 31 to Sept 15, 2025 for individuals & HUFs. Audit cases unchanged. Learn who qualifies and why.
Major Relief: ITR Filing Deadline for FY 2024-25 Extended!
In a significant development that brings relief to millions of taxpayers across India, the Central Board of Direct Taxes (CBDT) has announced an extension for the Income Tax Return (ITR) filing deadline for the Financial Year 2024-25 (Assessment Year 2025-26). The due date for filing ITRs for individuals and Hindu Undivided Families (HUFs) whose accounts are not required to be audited has been extended from the original July 31, 2025, to September 15, 2025.
This 45-day extension provides much-needed additional time for taxpayers to meticulously prepare and submit their income tax returns, especially in light of recent changes and system updates. While this is good news for many, it's crucial to understand who benefits from this extension and what other deadlines remain unchanged.
Reasons Behind the Deadline Extension
The CBDT's decision to extend the ITR filing deadline is a pragmatic response to several factors that could have otherwise complicated the filing process for taxpayers:
- Extensive Changes in ITR Forms: The Income Tax Department introduced significant structural and content revisions in the notified ITR forms (ITR-1 to ITR-7) for AY 2025-26. These updates, aimed at simplifying compliance and enhancing transparency, required additional time for taxpayers and tax professionals to understand and adapt.
- System Readiness and Utility Rollout: Implementing the changes in the ITR forms necessitated substantial time for system development, integration, and thorough testing of the e-filing utilities. The extension ensures that the e-filing portal is fully ready and stable, providing a seamless experience for users.
- Delays in TDS Credit Reflection: Many taxpayers rely on Form 26AS and Annual Information Statement (AIS) to reconcile their Tax Deducted at Source (TDS) entries. The credits arising from TDS statements, which were due for filing by May 31, 2025, were expected to reflect in early June. This limited the effective window for return filing, making an extension necessary.
- Budget 2024 Implications: Certain changes introduced in Budget 2024, particularly regarding new tax regime amendments and capital gains rules, further complicated the ITR filing process for FY 2024-25. The extension allows taxpayers ample time to navigate these complexities.
This extension is a welcome move, providing taxpayers with a crucial window to ensure accurate and compliant filings without undue pressure.
Who Qualifies for the September 15, 2025 Deadline?
The extended deadline specifically applies to the following categories of taxpayers for whom the original due date was July 31, 2025:
- Individuals: This includes salaried individuals, freelancers, pensioners, and those with income from house property or other sources.
- Hindu Undivided Families (HUFs): HUFs that are not required to get their accounts audited.
- Association of Persons (AOPs) / Body of Individuals (BOIs): Taxpayers in these categories whose accounts do not require an audit.
This essentially covers the vast majority of individual taxpayers who file ITR-1 (Sahaj), ITR-2, and ITR-4 (Sugam), provided they are not subject to a tax audit.
Key ITR Filing Deadlines for FY 2024-25 (AY 2025-26)
While the July 31 deadline is extended for many, other important dates remain as follows:
| Category of Taxpayer | Extended/Original Due Date |
|---|---|
| Individuals / HUFs / AOPs / BOIs (not requiring audit) | September 15, 2025 (Extended from July 31, 2025) |
| Businesses (requiring audit) | October 31, 2025 |
| Businesses requiring transfer pricing reports (Sec 92E) | November 30, 2025 |
| Belated/Late Return Filing | December 31, 2025 |
| Revised Return Filing | December 31, 2025 |
| Updated Return Filing (for missed ITRs) | March 31, 2030 (48 months from AY end) |
It is important to note that while the due date for general taxpayers is extended, the deadlines for entities requiring audits or transfer pricing reports remain unchanged for now.
What if You Miss the September 15 Deadline? Penalties & Consequences
Even with the extended deadline, it is crucial to file your ITR by September 15, 2025, to avoid penalties and other adverse consequences:
- Late Filing Fees (Section 234F):
- ₹1,000, if your total income is up to ₹5 lakh.
- ₹5,000, if your total income exceeds ₹5 lakh.
- Interest on Unpaid Tax (Section 234A): If you have any tax liability outstanding and file your return after the due date, you will be liable to pay interest at 1% per month or part thereof on the unpaid tax amount from the due date until the date of actual filing.
- Loss of Carry Forward Losses: You may lose the ability to carry forward certain losses (like capital losses or business losses) to offset against future income if the original or extended deadline is missed.
- Delayed Refunds: Filing late can significantly delay the processing of your tax refund, if any.
- Higher Scrutiny Risk: While not a direct penalty, late filers may face increased scrutiny from the Income Tax Department.
Even if you realize after the extended deadline that you need to file, you can still file a belated return by December 31, 2025, but it will come with late fees and interest if applicable.
Documents You Need to File Your ITR for FY 2024-25
Gathering all necessary documents beforehand can make your ITR filing process smooth and error-free. Here's a checklist:
- PAN Card & Aadhaar Card: Mandatory for filing. Ensure your PAN is linked with Aadhaar.
- Form 16: For salaried individuals, issued by your employer, detailing salary income and TDS.
- Form 16A/16B/16C/16D: TDS certificates for income other than salary (e.g., interest, rent).
- Form 26AS: Consolidated tax statement showing TDS, TCS, advance tax paid, and self-assessment tax paid. Download from the income tax e-filing portal.
- Annual Information Statement (AIS) & Taxpayer Information Summary (TIS): These provide a comprehensive view of all your financial transactions reported by various entities, including income from savings accounts, fixed deposits, dividends, mutual fund transactions, and more. Crucial for verifying details.
- Bank Statements/Passbook: For verifying interest income from savings accounts.
- Interest Certificates: For interest income from Fixed Deposits, Recurring Deposits, etc.
- Investment Proofs (for deductions): Receipts for investments under Section 80C (PPF, ELSS, Life Insurance premiums, etc.), health insurance premiums (80D), education loan interest (80E), donations (80G), etc. (if opting for old tax regime).
- Home Loan Interest Certificate: If you have a home loan and wish to claim deductions under Section 24 or 80EE/80EEA.
- Capital Gains Statement: From your broker or asset management company if you've sold shares, mutual funds, or property. Note the changes in capital gains reporting for FY 2024-25.
- Rental Income Details: Rent agreement, tenant's PAN (if applicable), municipal tax receipts.
- Foreign Income/Assets Documents: If applicable, including Form 67 for DTAA claims.
Remember, accurate reporting based on these documents is key to avoiding future notices from the Income Tax Department.
Maximizing Your Extended Window: Advice for Taxpayers
While the extension offers breathing room, it's not an excuse to procrastinate. Use this additional time wisely:
- Don't Wait Until the Last Minute: Start gathering your documents and begin the filing process well before September 15. This allows time to resolve any discrepancies or technical issues.
- Reconcile All Data: Cross-check your Form 16/16A with Form 26AS and AIS/TIS. Ensure all income sources and TDS credits are accurately reflected. Any mismatches should be resolved with the deductor or reported correctly.
- Choose the Right Tax Regime: For FY 2024-25, the new tax regime is the default. If you wish to opt for the old tax regime to claim deductions, ensure you make this choice explicitly in your ITR form (by filing Form 10-IEA before the due date for certain cases).
- E-Verify Your Return: After filing, it's mandatory to e-verify your ITR within 30 days of submission. Failing to do so renders your return invalid. Use Aadhaar OTP, Net Banking, or other available methods for quick e-verification.
- Seek Professional Help: If your tax situation is complex, consider consulting a tax professional or chartered accountant to ensure accurate filing and optimize your tax savings.
A well-prepared and timely filed return prevents future complications and ensures compliance with tax laws.
Utilize the Extended ITR Deadline Wisely!
The extension of the ITR filing deadline to September 15, 2025, is a significant relief for millions of individual taxpayers and HUFs. It reflects the government's understanding of the challenges posed by new forms and system updates.
Take advantage of this extra time to ensure your ITR for FY 2024-25 (AY 2025-26) is filed accurately and on time, paving the way for a smooth tax season.
0 Comments