Each year when the Income Tax Return (ITR) deadline approaches, taxpayers often have similar questions: Has the deadline been extended? Can I still file after 31 July? What income is tax-free? What penalties apply for late filing? This article answers all these, especially in light of recent changes for FY 2024-25 (Assessment Year 2025-26). Read on to stay compliant, avoid penalties, and make informed decisions.
Key Dates & Extension for ITR Filing (FY 2024-25 / AY 2025-26)
The original due date for many non-audit individual taxpayers to file their ITR for FY 2024-25 was **31 July 2025**. However, the Central Board of Direct Taxes (CBDT) issued Circular No. 06/2025 under Section 119 of the Income-tax Act, 1961, extending the due date.
- For individuals, HUFs, and other non-audit cases: **15 September 2025** is the last date to file ITR.
- For taxpayers whose accounts need audit: **31 October 2025** is the deadline.
- For cases involving transfer pricing reports: **30 November 2025** is the deadline.
This extension was granted due to delays in ITR form/utility release, stakeholder feedback, and to help taxpayers adjust to structural changes.
People Also Ask
Did the ITR due date get extended?
Yes. For FY 2024-25 (AY 2025-26), the ITR filing due date was extended for many taxpayers. Specifically, non-audit individual/hereditary taxpayers were moved from 31 July 2025 to **15 September 2025**.
Can I file an ITR after 31 July?
Yes, you can. Because the due date has been officially extended to 15 September 2025 (for non-audit cases), filing after 31 July is allowed and valid until that new deadline.
Is income up to ₹12 lakh tax-free?
This is a common question because of recent tax regime changes. As of FY 2024-25, no, ₹12 lakh is not entirely tax-free across all regimes. What changed is that under the *new tax regime*, there are revised tax slabs and rebates which can reduce tax-liability for some incomes. But tax-free threshold (basic exemption) is lower, depending on age, type of taxpayer, and which tax regime you choose.
For example, individuals with taxable income **not exceeding ₹5 lakh** may get certain sections like rebate under Section 87A, which can reduce tax outgo to zero under permissible circumstances. But that does not mean ₹12 lakh is wholly tax-free for everyone. Always check based on your chosen regime, deductions, and age.
What is the penalty for filing income tax return late?
If you miss your due date for ITR filing, several financial consequences kick in. Here are the main penalties and effects:
- Section 234F (Late Filing Fee):
• If your total income ≤ ₹5,00,000, the penalty is **₹1,000**.
• If your total income > ₹5,00,000, the penalty is **₹5,000**. - Interest Under Section 234A: If you have tax payable and haven’t paid it, interest of 1% per month (or part of month) applies on the unpaid tax after the due date.
- Loss of Certain Benefits: If you file after the due date, you cannot carry forward some business or capital losses (except some house property losses or unabsorbed depreciation) to future years.
- Delay in Refunds: Late filing often delays any tax refunds due to you. Also, interest on refund may be affected.
- Exclusion from Old Regime in Some Cases: If you file belatedly, you might lose the opportunity to opt for certain regimes (depending on when you file and which rules are active).
Other Important Details You Should Know
Belated Return & Revision
If you miss the extended due date, you can still file a *belated return*. The belated return for AY 2025-26 must be filed by **31 December 2025**.
Also, if you filed already but later discovered a mistake, you can file a **revised return** within 31 December of the assessment year. That gives you a chance to correct errors without more severe penalties.
Deadline for Paying Tax vs Filing Return
Note: Even if your ITR filing date is extended, any tax due (advance tax, self-assessment tax) typically needs to be paid by the earlier deadlines to avoid interest/penalty. For example, self-assessment taxes are often required by the original deadline (31 July in many cases) to avoid interest under sections like 234B/234C etc.
Who Must File ITR?
You are required to file ITR if any of the following applies:
- Your total income in the financial year exceeds the basic exemption limit (which depends on regime and age).
- You have income from property, capital gains, business/profession, foreign income etc.
- You are required under law to file (e.g. audits, tax deductions, etc.).
Summary Table
| Category of Taxpayer | ITR Filing Due Date (FY 2024-25 / AY 2025-26) | Late Filing Penalty (Section 234F) | Other Consequences |
|---|---|---|---|
| Non-audit individuals / HUFs | 15 Sept 2025 | ₹1,000 (if income ≤ ₹5 lakh), else ₹5,000 | Interest on unpaid tax, no carry forward of certain losses, delayed refunds |
| Audit cases | 31 Oct 2025 | Same slab, based on income | Additional compliance, audit report, possibly more scrutiny |
| Transfer pricing cases | 30 Nov 2025 | Same | Strict documentation, reporting, cross-border details |
Tips to Avoid Penalties & Make Filing Smooth
- Start early: gather your TDS certificates, Form 26AS, and other documents well before the deadline.
- Use pre-filled forms via the Income Tax e-filing portal to avoid mistakes.
- Check your tax liability in advance. If due, pay self-assessment tax on time. That avoids interest charges.
- Consider consulting a CA or tax advisor if you have complex income (business, capital gains, international income, etc.).
- File the return even if tax due is zero — missing filing when legally required can lead to penalties/prosecution.
Frequently Asked Questions (FAQ)
1. If someone’s income is below the basic exemption limit, do they still need to file ITR?
No, if your income is below the exemption threshold **and** you have no other conditions (like business income, foreign income, or tax deducted etc.), you may not need to file. But even then, sometimes it’s safer to file, e.g. to claim refunds or for loan/visa formalities.
2. If I file after 15 September but before 31 December, what changes?
Filing between those dates means your return is “belated.” You’ll incur late filing fees under Section 234F, interest if tax is unpaid, lose some carry-forward benefits, and possibly get delayed refunds. But it’s still legal to file.
3. Can the ITR deadline be extended again?
It’s possible, if CBDT issues another circular. However, as of now (mid/Sept 2025), no further extension has been officially announced.
4. What is the “new tax regime” and how does it affect deductions and rebates?
The new tax regime offers lower tax rates but fewer deductions/exemptions. Depending on income, deductions under Sections like 80C, 80D etc. may be less usable. Sometimes, even though overall tax liability is lower, choosing the new regime may or may not be better than the old. Always compare both options.
Conclusion
The extension of the ITR deadline for FY 2024-25 gives taxpayers extra breathing space—but procrastination can cost you. If you miss the new deadlines, penalties, interest, delayed benefits, and lost opportunities will follow. To avoid all that, gather documents, estimate your liabilities, and file your ITR on or before the due date. If you do miss it, file belatedly as soon as possible (before 31 December), accept the late-filing fees, and move forward with corrections if needed.
Stay informed, stay compliant, and make the most of legal benefits available to you.
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