ITR Filing Last Date for FY 2024–25 Extended: What Taxpayers Must Know Before September 15
- Rashmita Choudhary
- Jun 20
- 10 min read
The Central Board of Direct Taxes (CBDT) has officially extended the Income Tax Return (ITR) filing deadline for the Financial Year 2024-25 (Assessment Year 2025-26). Originally set for July 31, 2025, taxpayers now have until September 15, 2025, to file their returns. This extension provides a significant opportunity for taxpayers, including individuals, businesses, and tax professionals, to ensure more accurate filing, especially for those dealing with complex returns.
The extension comes as a relief for taxpayers who may have struggled to meet the original deadline due to various reasons, including the complexity of the updated ITR forms, changes in compliance requirements, and issues with TDS credits. With the extra time, taxpayers can ensure that all necessary documentation is in order and avoid last-minute errors that could result in penalties.
However, while this extension offers relief, it also serves as an opportunity to review filing strategies. Taxpayers should take advantage of this time to thoroughly check their filings, ensuring they comply with the latest tax laws and avoid unnecessary penalties.
Table of Contents
What Does the ITR Filing Deadline Extension Mean for Taxpayers?
The extension of the ITR filing deadline offers taxpayers extra time to ensure that their tax filings are accurate and complete. Many individuals and businesses face challenges while gathering the required documents, verifying TDS credits, and ensuring that their return complies with the latest tax regulations. The extension allows taxpayers to address these concerns without the pressure of rushing to meet the initial deadline. This also reduces the chances of errors in filing, which can lead to penalties or delayed refunds. The extension provides an opportunity for individuals to gather all necessary information, consult with tax professionals, and file a return that reflects their true tax liability.
Why Was the ITR Filing Deadline Extended?
The ITR filing deadline for FY 2024-25 was extended for several key reasons. The main driver behind this decision was the need for more time to ensure that Tax Deducted at Source (TDS) credits were correctly reflected in the system. TDS statements typically appear by May 31, 2025, but the updates were delayed until early June, limiting the time taxpayers had to file their returns accurately. Additionally, there were significant changes to the ITR forms, including new sections for additional reporting requirements, making the filing process more complex. These changes required more time for both taxpayers and the Income Tax Department’s systems to accommodate the revisions. The extension also helps alleviate the pressure on tax professionals, who must manage multiple clients and ensure all filings are complete and compliant with the updated regulations.
Who Does the Extension Apply To?
The extension of the ITR filing deadline primarily applies to individuals, Hindu Undivided Families (HUFs), Associations of Persons (AOPs), and Bodies of Individuals (BOIs) who are not subject to tax audits. This includes salaried individuals, freelancers, and those with non-business income. However, businesses and professionals who require an audit or have complex financial structures (such as those involved in transfer pricing) have different deadlines:
For businesses requiring audits: The new deadline is October 31, 2025.
For businesses with transfer pricing or international/domestic transactions: The filing deadline is extended to November 30, 2025.
This extension applies to all eligible taxpayers, giving them extra time to file their returns, ensure proper documentation, and verify any discrepancies in TDS statements.
What Happens If You Miss the September 15 Deadline?
If you fail to file your ITR by the new September 15, 2025 deadline, you can still file a belated return until December 31, 2025. However, you will face several consequences:
Penalties: A penalty of up to ₹5,000 may be imposed, depending on when the return is filed and the amount of tax owed.
Interest on Unpaid Taxes: Interest under Sections 234A, 234B, and 234C will apply to any unpaid taxes, increasing the overall tax liability.
Delayed Refunds: Filing after the deadline means that your return will be processed later, which may delay any refunds owed to you.
Missed Opportunities: Certain tax-saving benefits or claims may be unavailable if you file a belated return, especially if adjustments or revisions are required after the initial filing.
It’s crucial to file on time to avoid these penalties and ensure timely processing of your return and refund.
Key Things Taxpayers Must Do Before September 15
To ensure that you file your Income Tax Return (ITR) on time and accurately before the September 15, 2025 deadline, it is crucial to follow a structured approach. Here's a detailed breakdown of key steps you should take before the due date:
1. Verify TDS Credits
Before filing your return, ensure that your Tax Deducted at Source (TDS) credits are correctly reflected in your Form 26AS. Form 26AS is a consolidated tax statement that shows the TDS deducted on your income, tax paid, and other details related to your tax records. These credits are essential for accurate tax computation and filing.
Check for Missing or Incorrect TDS: Log in to your account on the Income Tax Department’s e-filing portal and review Form 26AS to see if all your TDS credits have been correctly reported. Any missing or incorrect entries may lead to discrepancies and delays in refund processing.
Resolve Discrepancies: If you notice any discrepancies in your TDS records, such as missing entries or incorrect details, reach out to your employer or the concerned deductor. They will need to update the records and ensure that TDS is reported accurately to avoid penalties or delays in processing.
2. Gather All Necessary Documents
To file your ITR accurately, you need to have all the relevant documents in place. Missing documentation can lead to delays and errors in your filing.
Form 16: This is the certificate issued by your employer detailing the salary you earned and the TDS deducted. It is crucial for salaried individuals.
Bank Statements: These are required to report interest income, savings, and any other income you may have earned during the year.
Proof of Deductions: Ensure you have supporting documents for various tax deductions. For example:
HRA (House Rent Allowance): Rent receipts, lease agreements, or other proof that can justify your HRA claim.
Section 80C: Investment proof for deductions under Section 80C, such as PPF, LIC, EPF, tax-saving FDs, etc.
Section 80D: Premium receipts for insurance policies, such as life, health, or home insurance.
Details of Other Income or Expenses: This may include details of income from sources like freelance work, rental income, capital gains, or income from investments. Also, keep track of any other applicable deductions or expenses.
3. Review Financial Statements (For Businesses)
If you are running a business or are a professional, it’s critical to ensure that your financial statements are prepared and finalized before filing your ITR. Businesses are required to report their income and expenses accurately, and any errors in the financial statements can lead to delays or audits.
Finalize Financial Statements: Make sure that your balance sheet, profit and loss account, and cash flow statements are up-to-date and accurate.
Internal Audit (If Required): If your business is subject to an audit (as per the provisions of the Income Tax Act), ensure that the internal audit is conducted well in advance to avoid delays in filing.
4. Check Tax Regime: Old vs. New
One of the most important decisions to make before filing your return is whether to opt for the old tax regime or the new simplified tax regime. The old regime offers several exemptions and deductions, while the new regime offers lower tax rates but without exemptions.
Old Tax Regime: Under the old regime, you can claim deductions under sections such as 80C (for investments), 80D (for insurance), HRA, and others. If you have significant deductions, this regime might be more beneficial.
New Tax Regime: This regime offers lower tax rates but removes most exemptions and deductions. If your tax-saving investments and deductions are minimal, the new tax regime might be more advantageous. Review your financial situation carefully before making a decision.
Consult a Tax Professional: If you are unsure about which regime would benefit you more, it’s worth consulting a tax professional who can help you assess your options and guide you in making the right choice.
5. Consult Tax Professionals
Filing your ITR can sometimes be complex, especially if you have multiple income sources, are self-employed, or have investments in various tax-saving schemes. If you’re unsure about how to file your return or have complex tax situations, it’s advisable to consult a tax professional. A Chartered Accountant (CA) or tax consultant can provide valuable insights and ensure your return is filed correctly.
Expert Assistance: Professionals can help you navigate through the complexities of ITR filing, including advising on tax-saving strategies, reviewing financial documents, and ensuring that your filing complies with tax laws.
Avoid Common Mistakes: Tax professionals are well-versed with the latest tax laws, forms, and procedures. They can help you avoid common mistakes that could delay your filing or result in penalties.
6. File Early
Filing your return well before the last minute is essential for a smooth process. As the deadline approaches, the tax filing system tends to become overloaded, leading to delays or system crashes. Additionally, last-minute filings increase the chances of errors, such as missing important details or submitting incorrect information.
Avoid System Overload: Filing early ensures that you have enough time to review your return, make corrections, and address any issues without being rushed.
Smooth Filing Process: Early filing also reduces the stress of waiting until the last day, helping you ensure everything is in order. It also ensures that your refund, if applicable, is processed sooner.
Take Advantage of Extra Time: The extended deadline means you have additional time to ensure accuracy in your filing, so take full advantage of this opportunity.
By following these steps, you can ensure a smooth and efficient tax filing process, avoiding unnecessary complications or delays. Proper preparation and timely filing will not only help you comply with the tax laws but also avoid penalties, interest, and unnecessary stress. Preparing ahead of time will ensure that your filing is accurate, complete, and submitted well before the deadline.
Conclusion
The extension of the ITR filing deadline provides much-needed time for taxpayers to ensure their returns are accurate and compliant with updated tax laws. While it offers relief, it's important to take advantage of the additional time wisely by verifying documents, ensuring TDS credits are accurate, and filing promptly to avoid penalties. Proactive planning and early filing will help prevent delays in refund processing and avoid the potential consequences of late submissions. Taxpayers who need help navigating the process can rely on platforms like TaxBuddy for a simplified and hassle-free experience.
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.
Frequently Asked Question (FAQs)
Q1: Does TaxBuddy offer both self-filing and expert-assisted plans for ITR filing, or only expert-assisted options?
Yes, TaxBuddy provides both self-filing and expert-assisted plans. The self-filing plan is ideal for individuals who are familiar with the tax filing process and want to file their returns independently using the tools provided by the platform. The expert-assisted plan is designed for those who prefer professional assistance, ensuring that an experienced tax expert reviews and files their return for them. This flexibility allows users to choose the plan that best suits their needs and comfort level.
Q2: Which is the best site to file ITR?
The best site to file your ITR depends on your individual preferences and the level of assistance you require. The official Income Tax Department portal is an option, but it can be complex for some users. TaxBuddy is an excellent choice for most taxpayers, offering a user-friendly interface, both self-filing and expert-assisted plans, and AI-driven tools to ensure an accurate and seamless filing experience. TaxBuddy is ideal for those seeking a more simplified, error-free filing process.
Q3: Where to file an income tax return?
Income tax returns can be filed on the official Income Tax Department portal atincometax.gov.in or through third-party platforms like TaxBuddy. The latter simplifies the filing process with additional features like expert assistance, TDS credit verification, and error-checking tools, which can save you time and effort in ensuring your return is accurate.
Q4: Can I file my ITR after the deadline without penalties?
No, filing your ITR after the deadline will result in penalties and interest. However, you can still file a belated return until December 31, 2025, for the Financial Year 2024-25, but you will incur a penalty based on the delay and will be liable for interest on any unpaid taxes. To avoid penalties and delays in refunds, it is always recommended to file within the due date or the extended deadline.
Q5: What happens if I fail to file ITR within the extended deadline?
If you fail to file your ITR by the extended deadline of September 15, 2025, for FY 2024-25, you can still file a belated return by December 31, 2025. However, missing the deadline means you will face penalties and interest charges, and your refund processing will be delayed compared to those who file on time. It’s important to file as early as possible to avoid these complications.
Q6: How do I check the status of my income tax refund?
To check the status of your income tax refund, you can visit the official Income Tax Department portal and enter your PAN number and assessment year details. Alternatively, if you file through TaxBuddy, you can easily track your refund status directly on the platform or get assistance from their customer support team for real-time updates.
Q7: Does TaxBuddy assist with TDS credit verification?
Yes, TaxBuddy provides assistance with verifying your TDS credits. TDS credit verification is crucial to ensure that all tax deductions made by your employer or others are accurately reflected in your ITR. TaxBuddy ensures that these credits are captured correctly, helping to avoid discrepancies that could delay the processing of your refund.
Q8: How long does it take for TaxBuddy to process an ITR filing?
TaxBuddy processes ITR filings quickly. For simple tax returns, the process may take a few hours. However, for more complex filings requiring expert assistance, the time may extend depending on the complexity of the tax situation. The platform aims to streamline the filing process, ensuring that all returns are filed accurately and efficiently to avoid delays in processing.
Q9: What if I file ITR after the extended deadline?
If you file your ITR after the extended deadline of September 15, 2025, you can still file a belated return by December 31, 2025. However, you will be required to pay penalties and interest on any unpaid taxes. Furthermore, your refund will be delayed as belated returns are processed after on-time filings.
Q10: Are there penalties for errors in my ITR filing?
Yes, errors in your ITR filing can result in penalties, interest, and delays in processing your refund. Common mistakes such as misreporting income, missing deductions, or incorrect TDS credits can trigger additional scrutiny. Filing accurately is crucial to avoid such penalties. TaxBuddy helps reduce these risks by providing error-checking features and expert assistance to ensure the correctness of your filing.
Q11: Can I make corrections in my ITR after filing?
Yes, if you notice any errors or omissions in your filed ITR, you can file a revised return. The revised return allows you to correct mistakes in your initial filing, such as incorrect income reporting or missed deductions. This can be done before the end of the assessment year, ensuring that your taxes are filed accurately and avoiding penalties.
Q12: Does TaxBuddy support all tax regimes for ITR filing?
Yes, TaxBuddy supports both the old and new tax regimes for ITR filing. The platform helps you evaluate which tax regime would be more beneficial based on your income, exemptions, and deductions. Whether you are opting for the new tax regime with no exemptions or the old regime with exemptions and deductions, TaxBuddy ensures that you make an informed decision that minimizes your tax liability.
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