Income Tax Return Due Date Extension
The original due date for ITR filing was 31 July 2025, but it has been extended to 15 September 2025.
The extension provides relief to taxpayers, ensuring more time for accurate submissions
Consequences of Missing the Extended Deadline
Late Filing Fees (Section 234F)
If your total income exceeds Rs. 5 lakh: Rs. 5,000 penalty. If your total income is within Rs. 5 lakh: Rs. 1,000 penalty
Interest Charges (Section 234A)
Interest at 1% per month or part of the month on unpaid tax amount will be levied from the due date until the actual filing date.
Loss of Benefits
- You will not be allowed to carry forward losses from stock market, mutual funds, properties, or businesses if you miss filing before the deadline
- Delayed refund processing
- Potential scrutiny from tax authorities
Options After Missing the Deadline
Belated Return
If you miss the September 15, 2025 deadline, you can still file a belated return until December 31, 2025. However, this will attract:
- Late filing fees as mentioned above
- Interest charges on unpaid taxes
- Loss of certain tax benefits
Revised Return
If you've made a mistake in your original ITR, you can file a revised return until December 31, 2025. This allows you to:
- Correct errors in income reporting
- Claim missed deductions
- Update incorrect personal information
Updated Return (ITR-U)
For returns filed even after the belated return deadline, taxpayers can file an updated return, subject to specific conditions and additional tax implications:
- 25% additional tax if filed within the first year
- 50% additional tax if filed in the second year
Important Considerations for Taxpayers
Choice of Tax Regime
Taxpayers must file their income tax returns by the due date (September 15, 2025) to choose the old regime, as the new regime will automatically become the default for late filings. This is crucial for those who benefit more from deductions available under the old regime.
Document Preparation
Start gathering essential documents early:
- Form 16 from employers
- Investment proofs for deductions
- Bank statements
- Capital gains statements
- Home loan certificates
- Medical insurance receipts
Professional Assistance
Given the complexity of new changes, consider consulting tax professionals if you have:
- Multiple income sources
- Capital gains transactions
- International income
- Business or professional income
Filing Process and E-Filing Portal
The Income Tax e-filing portal became fully functional by the end of May 2025, with ITR forms for various categories (ITR-1 through ITR-7) being released progressively. Taxpayers can:
- File returns online through the official portal
- Use offline utilities for complex returns
- Seek assistance from tax professionals
- Utilize pre-filled forms where available
Recommendations for Smooth Filing
File Early
Despite the extension, it's advisable to file early to:
- Avoid last-minute technical glitches
- Get faster refund processing
- Have time for corrections if needed
- Reduce stress and penalties
Verify Returns Promptly
After filing, ensure you verify your return within 30 days through:
- Aadhaar OTP
- Electronic Verification Code (EVC)
- Digital Signature Certificate (DSC)
- Physical submission (if other methods aren't available)
Keep Records
Maintain all supporting documents for at least six years, as the Income Tax Department may request verification during assessment proceedings.
Conclusion
The extension of the ITR filing deadline to September 15, 2025, provides much-needed breathing room for taxpayers to adapt to the significant changes in tax forms and regulations. While this extension offers relief, taxpayers should not become complacent. Early filing remains the best strategy to avoid penalties, ensure smooth processing, and maintain compliance with tax laws.
The extension reflects the government's recognition of the challenges faced by taxpayers in adapting to new requirements and demonstrates a taxpayer-friendly approach. However, it's essential to use this additional time wisely to ensure accurate and complete tax filing.
