Last Date of ITR Filing FY 2024–25: What You Need to Know
- Nimisha Panda
- Oct 16
- 8 min read
The last date to file Income Tax Returns (ITR) for Financial Year (FY) 2024-25 and Assessment Year (AY) 2025-26 has been extended beyond its original deadline due to significant updates in tax forms and portal readiness. The Central Board of Direct Taxes (CBDT) finalized September 16, 2025, as the cut-off date for individuals, HUFs, and non-audit taxpayers. For audit cases, businesses with transfer pricing requirements, and those needing additional compliance, the deadlines extend further into October and November 2025. These changes are aimed at providing taxpayers enough time to adapt to the updated system and file accurately without penalties.
Table of Contents
Last Date of ITR Filing FY 2024-25
The last date for filing Income Tax Returns (ITR) for the Financial Year 2024-25 has undergone multiple extensions due to system readiness and form updates. Initially scheduled for 31st July 2025, the deadline was extended by the Central Board of Direct Taxes (CBDT) to ensure taxpayers had sufficient time to adapt to new utilities and compliance requirements. The final due date for individuals, Hindu Undivided Families (HUFs), Association of Persons (AOP), and Body of Individuals (BOI) who are not subject to audit is 16th September 2025. For businesses requiring audits or international transfer pricing reports, separate deadlines apply.
Final Due Dates for ITR Filing FY 2024-25
For individuals, HUFs, AOPs, and BOIs not requiring audit: 16th September 2025
For businesses and entities requiring audit: 31st October 2025
For businesses with international or specified domestic transactions requiring transfer pricing reports: 30th November 2025
For revised and belated returns: 31st December 2025
For updated returns: 31st March 2030
These extended deadlines take into account the late release of several ITR utilities, including ITR-5, ITR-6, and ITR-7, which were only made available in August 2025.
Consequences of Missing the ITR Filing Deadline
Consequences of missing the ITR filing deadline extend beyond simply paying a fee. If the return for FY 2024-25 is not filed by the final date of 16th September 2025, the taxpayer becomes liable to pay interest under Section 234A of the Income Tax Act. This interest is charged at the rate of 1 per cent per month or part of a month on the unpaid tax amount, starting from the due date until the date of actual filing. For those who still have pending tax liabilities, this can significantly increase the overall payment burden.
In addition to interest, there is also a mandatory late filing fee under Section 234F. This fee varies depending on the taxpayer’s income. For individuals with income up to ₹5 lakh, the penalty is limited to ₹1,000. For those with an income above ₹5 lakh, the penalty can go up to ₹5,000. This fee is payable even if the return is filed before 31st December 2025 as a belated return.
Another consequence of missing the deadline is the delay in processing refunds. Taxpayers entitled to refunds may face longer waiting times if the return is filed after the due date, as belated returns are usually processed later in the system. This delay could affect individuals who rely on timely refunds for financial planning.
Filing late also restricts the ability to carry forward certain losses. For example, business losses and capital losses can only be carried forward if the return is filed within the original due date. If the deadline is missed, these losses lapse and cannot be set off against future income, resulting in a higher tax burden in later years.
It is important to note that not everyone faces penalties for missing the deadline. If the total taxable income is below the basic exemption limit, there is no liability for late fees or interest. However, filing is still advisable even in such cases, as a filed return acts as an official record and may be required for loan applications, visa processing, or compliance checks in the future.
Revised Returns and Belated Returns under Section 139
Taxpayers who miss the original due date can still file a belated return under Section 139(4) until 31st December 2025. Such returns, however, attract late fees and interest. If a return has already been filed but contains errors or omissions, taxpayers can file a revised return under Section 139(5), also by 31st December 2025. Both options allow taxpayers to remain compliant but with additional financial costs compared to filing on time.
Updated Returns: Extended Filing Window till March 2030
The Income Tax Act also provides the option of filing an updated return under Section 139(8A). This facility allows taxpayers to declare missed income and correct past filings up to two years after the end of the relevant assessment year. For FY 2024-25, updated returns can be filed until 31st March 2030. While this window provides flexibility, filing an updated return generally involves paying additional tax along with interest and penalties, depending on the circumstances.
Clarifications on Filing Compliance and Bank Details
The CBDT has issued several clarifications to simplify compliance for taxpayers. One of the key requirements is the pre-validation of bank accounts to ensure seamless processing of refunds. If bank account validation fails, taxpayers may face delays in receiving refunds. To avoid issues, taxpayers are advised to update valid bank details in the income tax portal under the “My Bank Account” section before filing. Additionally, taxpayers with income from special categories such as lottery or horse race winnings cannot use simpler ITR forms like ITR-1 or ITR-4. They must select the appropriate form based on their income type.
How TaxBuddy Simplifies the ITR Filing Process
With frequent deadline extensions, multiple return types, and compliance clarifications, taxpayers often find the process overwhelming. TaxBuddy provides a seamless platform to simplify this journey. Its AI-driven system helps auto-fill data from Form 16, AIS, and bank statements, reducing manual errors. TaxBuddy also offers both self-filing and expert-assisted options, making it easier for individuals and businesses to meet their filing obligations on time. The mobile app ensures real-time updates and guidance, allowing taxpayers to stay compliant with the latest rules and avoid penalties.
Conclusion
The last date for ITR filing for FY 2024-25 varies based on taxpayer categories, but the final deadline for most individuals is 16th September 2025. Filing within the due date helps avoid penalties, ensures timely refunds, and keeps taxpayers compliant with evolving regulations. For those managing multiple income sources or complex compliance requirements, platforms like TaxBuddy offer the support needed to file correctly and on time. For anyone looking for assistance in tax filing, it is highly recommended to download the TaxBuddy mobile app for a simplified, secure, and hassle-free experience.
FAQs
Q1. Does TaxBuddy offer both self-filing and expert-assisted plans for ITR filing, or only expert-assisted options? Yes, TaxBuddy provides both options to meet the needs of different taxpayers. The self-filing plan is designed for those who are comfortable filing on their own but want to save time with automation. Users can upload key documents such as Form 16, AIS, and bank statements, and the system auto-fills the relevant fields. For individuals with complex cases involving capital gains, foreign income, or multiple sources of earnings, the expert-assisted plan is ideal. In this option, a tax professional reviews the return, ensures accuracy, and offers post-filing support in case of queries or notices.
Q2. Which is the best site to file ITR? The Income Tax Department’s official e-filing portal remains the primary government-authorised site for filing returns. However, for ease of use and added features, many taxpayers prefer private platforms like TaxBuddy. It offers AI-driven tax filing, automated error checks, and expert-assisted options. These features make it especially helpful for salaried employees, freelancers, and business owners who want a seamless and error-free filing experience.
Q3. Where to file an income tax return? Taxpayers can file their ITR through two main channels. The first is the official government e-filing portal at incometax.gov.in, which provides direct access to all forms and utilities. The second is through secure third-party platforms like TaxBuddy that integrate with government systems while offering a simplified user interface, guidance on deductions, and real-time validation checks. This makes the process faster and less error-prone.
Q4. What happens if the ITR filing deadline is missed? If the deadline is missed, late fees under Section 234F apply. Depending on the total income, the penalty may range from ₹1,000 to ₹5,000. Additionally, interest under Section 234A is charged at 1% per month on any unpaid tax liability. Late filing may also delay refunds and prevent taxpayers from carrying forward certain losses, such as business or capital losses, to future years. However, no penalty is imposed if the taxable income is below the exemption limit.
Q5. Can a belated return be revised later? Yes, a belated return filed after the due date can still be revised if errors or omissions are identified. As per Section 139(5), the revised return must be filed before 31st December 2025 for FY 2024-25. This provision gives taxpayers an opportunity to correct mistakes, claim missed deductions, or update details without facing penalties for inaccuracy, provided it is done before the deadline.
Q6. Until when can an updated return be filed for FY 2024-25? The concept of an updated return, introduced under Section 139(8A), allows taxpayers to file corrections up to two years after the end of the relevant assessment year. For FY 2024-25, updated returns can be filed until 31st March 2030. This facility helps taxpayers who may have missed declaring income or made significant mistakes earlier. However, updated returns often involve paying additional tax along with interest and penalties, making timely and accurate filing preferable.
Q7. Is there a penalty for late filing if income is below the taxable limit? No, if the total taxable income is below the basic exemption limit (₹2.5 lakh for individuals under 60, higher for senior citizens), there is no penalty under Section 234F. Additionally, interest under Section 234A does not apply if there is no tax payable. However, it is still advisable to file voluntarily, even when income is below the threshold, as it helps in maintaining financial records and can be useful when applying for loans or visas.
Q8. Why were ITR deadlines extended for FY 2024-25? The CBDT extended the deadlines due to practical challenges faced by taxpayers. Updated versions of ITR forms and utilities, such as ITR-5, ITR-6, and ITR-7, were released late in August 2025. Technical glitches on the income tax portal also caused difficulties in filing. To ensure that taxpayers and professionals had enough time to adapt to these changes and file accurately, the deadlines were extended multiple times before being finalised.
Q9. How can bank account validation issues be resolved while filing ITR? Refunds can only be credited to pre-validated bank accounts. To resolve validation errors, taxpayers must update their bank details in the “My Bank Account” section of their income tax portal profile. Ensuring that the account is linked with PAN and Aadhaar is also essential. If online validation fails, the offline return utility may be used, but the account must still be pre-validated before refunds are processed.
Q10. Can I file ITR-1 or ITR-4 if I have income from lottery or horse race winnings? No, ITR-1 (Sahaj) and ITR-4 (Sugam) cannot be used if the taxpayer has income from lottery winnings, horse races, or similar speculative income where TDS is deducted at higher rates. In such cases, other ITR forms like ITR-2 or ITR-3 must be used. Taxpayers are advised to carefully check Form 26AS and AIS reports to ensure accurate reporting of such income.
Q11. Is opting for the old tax regime through Form 10IEA permanent? For Assessment Year 2025-26, once a taxpayer opts for the old regime by filing Form 10IEA, the choice is binding for that year. It cannot be switched midway. However, taxpayers are free to change their choice in subsequent years. This ensures clarity for both taxpayers and the department regarding applicable deductions, exemptions, and tax slabs for the current year.
Q12. How does TaxBuddy help in avoiding errors during filing? TaxBuddy uses an AI-powered system that cross-verifies entries against documents such as Form 26AS, AIS, and Form 16. This minimises the chances of errors that often lead to notices from the tax department. It also provides real-time alerts for mismatched figures, missing deductions, or unreported income. With expert-assisted plans, a professional reviews the return before submission, ensuring accuracy and compliance with the latest rules. This reduces the likelihood of penalties and speeds up refund processing.
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