ITR Filing Last Date Extended for FY 2024-2025 (AY 2025-26) | Latest Amendments in ITR-1 & ITR-4 Forms Explained
- PRITI SIRDESHMUKH
- 1 day ago
- 10 min read
The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return (ITR) filing deadline for the Assessment Year (AY) 2025-26, corresponding to the Financial Year (FY) 2024-25. This extension comes due to system development, integration challenges, and significant structural changes in the ITR forms aimed at simplifying tax compliance, enhancing transparency, and improving accurate reporting.
Additionally, the availability of updated TDS credits will begin from early June 2025, which narrows the effective window for tax filing. With the new deadline now set to 15th September 2025, taxpayers receive 46 extra days beyond the original 31st July 2025 deadline. This relief benefits a wide range of taxpayers, including salaried professionals, self-employed individuals, and businesses, giving them additional time to gather documents, verify tax credits, and file accurate returns.
The extension helps reduce last-minute rushes and errors, fostering smoother tax compliance for the year.
Table of Contents
Who will Benefit from ITR Filing Last Date Extension?
The extension of the ITR filing deadline to 15th September 2025 provides significant relief to various categories of taxpayers, especially salaried individuals and other taxpayers whose accounts are not subject to audit. These taxpayers traditionally face the 31st July deadline for filing their returns. The additional 46 days offered by this extension allow them extra time to gather all necessary financial documents, reconcile tax deducted at source (TDS)Â credits, and navigate the updated ITR formats introduced for AY 2025-26.
This extension also benefits taxpayers who rely on updated TDS data, which becomes available starting early June 2025. By providing a longer filing window, the government aims to reduce last-minute rush, minimize errors, and promote accurate filing. While the extension is a welcome relief, it is advisable to file early to avoid technical glitches or unexpected delays during the last days before the deadline.
New ITR Form 5 Overview
Alongside the deadline extension, the Central Board of Direct Taxes (CBDT) introduced a new ITR Form 5Â for AY 2025-26. This form is designed for certain categories of taxpayers such as firms, Limited Liability Partnerships (LLPs), and other non-individual entities.
Key changes in the new ITR-5 form include:
Capital Gains Reporting Split:Â Taxpayers must report capital gains separately for transactions occurring before and after 23rd July 2024, reflecting changes in tax regulations effective from that date.
Capital Losses on Share Buybacks:Â There is a new requirement to conditionally report capital losses incurred during share buybacks after 1st October 2024, particularly when dividend income from such buybacks is declared as income from other sources.
Reference to Section 44BBC:Â The form includes specific fields referencing Section 44BBC of the Income Tax Act, which pertains to income from certain professions.
TDS Section Code Specification:Â Taxpayers need to specify the applicable tax deducted at source (TDS) section codes within the TDS schedule to ensure accurate processing.
These structural revisions in ITR-5 reflect the government’s ongoing efforts to improve compliance and transparency for non-individual taxpayers.
Overview of Revised ITR-1 and ITR-4 Forms for AY 2025-26
The AY 2025-26 ITR forms have undergone important amendments to enhance accuracy and reporting clarity, particularly affecting ITR-1 (Sahaj) and ITR-4 (Sugam).
Designed for salaried individuals with income up to ₹50 lakh and no business income.
Newly allowed reporting of Long Term Capital Gains (LTCG) up to ₹1.25 lakh under Section 112A; however, capital losses cannot be carried forward.
Enhanced pre-filled data integration from Form 26AS and Annual Information Statement (AIS) reduces manual errors.
Requires more detailed disclosure of deductions claimed under Chapter VI-A (such as 80C, 80D).
Bank account pre-validation is mandatory to facilitate timely refunds.
Applicable for taxpayers opting for presumptive taxation schemes under Sections 44AD, 44ADA, and 44AE.
Allows LTCG reporting similar to ITR-1, up to ₹1.25 lakh.
Includes references to Section 44BBC, covering income from specified professions.
Requires more detailed reporting of digital receipts and turnover, reflecting the growing digital economy.
Introduces conditional reporting and validation checks to improve data accuracy and reduce filing errors.
These revisions aim to align the filing process with current tax regulations while easing the compliance burden.
New ITR Filing Deadlines for FY 2024-25 / AY 2025-26
The Income Tax Department’s original deadline for filing ITR for FY 2024-25 (AY 2025-26) was set as 31st July 2025. However, to accommodate significant system upgrades, integration of new ITR formats, and to alleviate taxpayer difficulties, the deadline has been officially extended to 15th September 2025.
This extension provides taxpayers a valuable window of 46 additional days to:
Collect and organize necessary documentation
Verify and reconcile TDS credits, available from early June 2025
Ensure accurate filing with the revised ITR forms
While this extension offers flexibility, taxpayers are encouraged not to delay filing unnecessarily. Timely submissions reduce the risk of technical issues, errors, and processing delays. Marking this new deadline clearly on calendars and planning ahead is essential to a stress-free filing experience.
Important Filing Considerations & Penalties
Filing income tax returns beyond the due dates attracts certain penalties and consequences:
Late Filing Penalties: Under Section 234F, taxpayers face penalties up to ₹5,000 if total income exceeds ₹5 lakh. For incomes up to ₹5 lakh, the penalty reduces to ₹1,000.
Interest Charges:Â Section 234A mandates interest at 1% per month or part thereof on any unpaid tax from the original due date until the return is filed.
Loss of Benefits:Â Missing the deadline causes loss of the ability to carry forward business losses and capital losses, affecting future tax computations.
Scrutiny and Notices:Â Late filing increases the likelihood of receiving notices or scrutiny from tax authorities, potentially leading to more extensive tax audits.
Refund Delays:Â Processing of any due refunds only begins after filing, so late returns delay refunds.
Legal Action:Â Repeated non-compliance or habitual late filing may trigger legal consequences.
Despite the extension, filing early is the best safeguard against penalties and complications.
Implications of the ITR Filing Last Date Extension
The extension of the ITR filing deadline not only benefits taxpayers but also carries several implications:
Belated Returns:Â Taxpayers who miss the extended deadline of 15th September 2025 can still file belated returns until 31st December 2025, but with applicable penalties.
Tax Planning:Â The extension allows more time to reconcile financial data and plan taxes efficiently.
Reduced Rush:Â Aims to reduce server load and processing bottlenecks by spreading out the filing period.
Impact on Refunds:Â While refunds may be delayed if filing is late, early filing within the extended deadline helps expedite refunds.
Compliance Assurance:Â Encourages more accurate and complete filing by allowing time to address discrepancies and missing documents.
Administrative Ease:Â Provides time for the Income Tax Department to roll out and stabilize new e-filing utilities and ITR forms.
Taxpayers should utilize this window wisely to avoid any avoidable late fees and complications.
Documents Required for Filing ITR-1 & ITR-4
To file ITR accurately, the following documents are essential:
Form 16:Â Issued by employers detailing salary and TDS deducted
Form 26AS:Â Consolidated tax credit statement showing TDS, advance tax paid, and refunds
Interest Certificates:Â From banks or post offices for interest income
Investment Proofs:Â Documents for deductions under Sections like 80C (e.g., LIC, PPF), 80D (medical insurance), etc.
Capital Gains Statements:Â From brokers or depositories if you have taxable capital gains
Bank Account Details:Â Account number and IFSC code for refund processing; pre-validation required
PAN and Aadhaar:Â Identity proof and mandatory for filing and verification
Having these documents ready ensures smooth and accurate filing, reducing the chances of discrepancies.
Step-by-Step Guide to Filing ITR-1 & ITR-4
Check Eligibility:Â Confirm that your income sources and amounts fit the criteria for ITR-1 or ITR-4.
Gather Documents:Â Collect Form 16, Form 26AS, investment proofs, interest certificates, and capital gains statements if applicable.
Log In to e-Filing Portal: Use your PAN-based credentials on incometax.gov.in.
Verify Pre-Filled Data:Â Cross-check pre-filled income and TDS details from Form 26AS and AIS for accuracy.
Enter Income Details:Â Carefully fill in salary, capital gains, and other income; ensure deductions under Chapter VI-AÂ are correctly claimed.
Pre-Validate Bank Account:Â Complete mandatory bank account validation on the portal for refund processing.
Submit Return:Â Review all entries and submit your return on the portal.
E-Verify Return:Â Use Aadhaar OTP, net banking, or other approved methods to complete verification, making the return valid for processing.
How to File Your ITR After the Deadline Extension
Filing ITR after the extended deadline is still possible but requires caution:
Check Extended Deadline:Â Be aware of the final deadline, 15th September 2025, to avoid penalties.
Complete Documentation:Â Ensure all necessary proofs and statements are in place to avoid delays.
Select Correct Form:Â Use ITR-1, ITR-4, or other relevant forms based on your income and business profile.
Careful Data Entry:Â Pay special attention to accurate reporting of income, deductions, and tax payments.
Submit and Verify Promptly:Â Avoid delays by e-verifying as soon as filing is complete.
Penalty Awareness:Â Filing after 15th September attracts late filing fees and interest, so timely submission is best.
Role of TaxBuddy in Simplifying ITR Filing Post-Extension
TaxBuddy offers a comprehensive solution to ease the tax filing process, especially useful during the extended filing period:
Auto-Fill Capabilities:Â Imports Form 26AS, AIS, and investment proofs to minimize manual data entry.
Real-Time Error Detection:Â Flags inconsistencies or missing information to prevent notice triggers.
Maximizing Deductions:Â AI-powered suggestions ensure you claim eligible deductions under Section 80C and others.
Expert Support:Â Provides guidance and assistance for complex returns and handling post-filing notices.
Flexible Plans:Â Options for self-filing or expert-assisted filing tailored to user needs.
User-Friendly Mobile App:Â Enables filing anytime, anywhere with easy navigation and status tracking.
Leveraging TaxBuddy can reduce errors, save time, and provide peace of mind, especially when filing close to deadlines.
Conclusion
Extended ITR filing deadlines provide relief but require careful planning to avoid penalties and errors. Gathering accurate documents, pre-validating bank accounts, and avoiding common mistakes are vital steps in ensuring smooth tax filing. Leveraging digital platforms like TaxBuddy can make the process simpler, faster, and error-free, empowering taxpayers to meet deadlines confidently and maximize their tax benefits. Staying informed and proactive remains key in navigating tax compliance effectively.
FAQs
1. Does TaxBuddy offer both self-filing and expert-assisted plans for ITR filing, or only expert-assisted options?
TaxBuddy offers both self-filing and expert-assisted plans tailored to diverse taxpayer needs. Individuals comfortable with filing on their own can use the self-filing option, which provides a user-friendly interface and AI-driven assistance for error-free submission. For those seeking professional guidance, expert-assisted plans connect users with tax professionals who review the return, provide personalized advice, and handle complex filings. This dual approach ensures flexibility, allowing taxpayers to choose the level of support that best suits their situation.
2. Which is the best site to file ITR?
The best site to file ITR depends on the taxpayer’s needs for convenience, accuracy, and support. TaxBuddy stands out as a top choice due to its authorized status by the Government of India, seamless e-filing experience, real-time error checks, and expert support options. Its mobile app enables easy filing anytime, while AI assistance minimizes mistakes. The official Income Tax Department portal is also reliable but may lack the user-friendly features and expert guidance found in platforms like TaxBuddy.
3. Where to file an income tax return?
Income tax returns can be filed online on the official Income Tax Department’s e-filing portal at incometax.gov.in. Alternatively, authorized intermediaries like TaxBuddy provide safe, easy-to-use platforms that integrate with the government system, offering additional features like automated data import, expert support, and seamless verification options. TaxBuddy is trusted by over a million users and facilitates both self-filing and expert-assisted filing with compliance assurance.
4. What is the new deadline for filing ITR for AY 2025–26?
The new deadline for filing Income Tax Returns (ITR) for Assessment Year (AY) 2025–26 has been extended to September 15, 2025. This extension allows taxpayers more time beyond the traditional July 31 deadline to gather documents, verify details, and file returns without immediate late filing penalties.
5. Are there penalties for filing after July 31, 2025, but before September 15, 2025?
No late filing penalties apply if the ITR is filed between July 31, 2025, and September 15, 2025, due to the official deadline extension. However, after September 15, penalties under Section 234F may apply, including ₹5,000 for returns filed after the extended deadline and up to ₹1,000 for income below ₹5 lakh.
6. What documents are required to file ITR for FY 2024–25?
To file ITR for FY 2024–25, essential documents include:
Form 16 (salary details and TDS)
Form 26AS (TDS and tax credits)
Bank statements and interest certificates
Investment proofs for deductions under Sections like 80C, 80D
Rental income receipts (if applicable)
Capital gains statements (if any)
Aadhaar and PAN details
Gathering these documents ensures accurate reporting and smooth filing.
7. How do I ensure my TDS credits are correctly reflected before filing?
Verify TDS credits by cross-checking Form 26AS available on the Income Tax Department’s portal with your salary slips and investment documents. Any discrepancies should be rectified by contacting the deductor or employer before filing. TaxBuddy’s platform also automatically imports Form 26AS data, highlighting any mismatches and guiding users to resolve them.
8. How do I pre-validate my bank account for receiving tax refunds?
Pre-validation of the bank account can be done through the Income Tax e-filing portal by linking your bank details with your PAN. This process usually involves submitting the IFSC code and account number and receiving a confirmation through a one-time password (OTP). TaxBuddy simplifies this by guiding users through bank account validation during the filing process, reducing refund delays.
9. Can I file my ITR after the extended deadline? What are the consequences?
ITR can be filed after the extended deadline of September 15, 2025, but it will be considered a belated return. Filing late attracts penalties under Section 234F and interest on any unpaid tax dues. Additionally, a belated return cannot be revised and may limit certain benefits like loss carry-forwards.
10. How does the extension impact taxpayers under the presumptive taxation scheme?
For taxpayers under presumptive taxation (Sections 44AD, 44ADA), the extension provides additional time to file their returns without penalty. However, advance tax payments and other compliance obligations remain unchanged, so it’s important to meet those deadlines separately.
11. Does TaxBuddy provide support for new ITR forms and filing requirements?
Yes, TaxBuddy continuously updates its platform to incorporate new ITR forms and comply with evolving filing requirements. It offers expert assistance to navigate changes, ensuring taxpayers file accurate returns in line with current regulations.
12. How can I avoid common mistakes while filing ITR with the extended deadline?
Avoid mistakes by:
Using authorized platforms like TaxBuddy with built-in error checks
Ensuring all income sources and deductions are correctly reported
Verifying pre-filled data such as Form 26AS
Filing the correct ITR form based on income sources
Seeking expert help for complex returns
Following these steps reduces errors and improves filing accuracy.
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