When Is It Too Late to File an ITR? The Final Deadline You Must Know
- Nimisha Panda
- Jul 17
- 9 min read
The Income Tax Return (ITR) filing deadline is a crucial date that all taxpayers must adhere to, as failing to file within the specified time frame can lead to penalties, interest charges, and complications in receiving refunds. For the Financial Year (FY) 2024-25 (Assessment Year 2025-26), the Central Board of Direct Taxes (CBDT) has extended the ITR filing deadline from July 31, 2025, to September 15, 2025. This extension provides taxpayers with much-needed relief, ensuring that they have adequate time to file their returns accurately. It’s vital for both individual taxpayers and businesses to understand the revised deadlines, the penalties for missing them, and the possible consequences of late filing.
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ITR Filing Deadlines for FY 2024-25 (AY 2025-26)
The Central Board of Direct Taxes (CBDT) has set the following deadlines for filing Income Tax Returns (ITR) for the Financial Year 2024-25 (Assessment Year 2025-26):
For Individuals, HUFs, AOPs, and BOIs (without audit): The filing deadline has been extended to September 15, 2025. This extension allows non-business taxpayers, including salaried individuals, to file their returns accurately without the usual rush of last-minute filings.
For Businesses (requiring audit): Businesses that need to undergo a tax audit will have a deadline of October 31, 2025. This category typically includes large corporations and firms whose financial statements need to be audited by a chartered accountant.
For Businesses with Transfer Pricing: If your business is involved in international or domestic transfer pricing, the deadline for filing the return is November 30, 2025. Transfer pricing regulations apply to businesses that engage in cross-border transactions or transactions between related parties in India.
Revised/Belated Returns: Taxpayers who miss the primary or extended filing deadlines can file a belated return by December 31, 2025. However, filing late will lead to penalties and interest on any unpaid taxes.
Updated Returns: The filing deadline for updated returns under Section 139(8A) has been set as March 31, 2030. This provision allows taxpayers to make changes to their previously filed ITR if discrepancies are noticed.
It is important to stay aware of these updated deadlines and ensure timely filing to avoid unnecessary penalties and delays in refunds.
What If You Miss the ITR Deadline?
Missing the ITR filing deadline can result in serious consequences. While the extended deadline provides taxpayers with more time to file, it is still possible to miss it, leading to penalties and interest charges. If you fail to file by the deadline:
Belated Returns: You can file a belated return after the deadline until December 31, 2025. However, this will not be considered as timely filing and can incur penalties.
Ineligibility for Refunds: If you file late, the processing of any refunds will also be delayed. Late filing puts you at the back of the line for refund processing.
Interest on Unpaid Taxes: Interest will be levied on any taxes that remain unpaid after the deadline, further increasing your liability.
Potential Scrutiny or Audit: A late filing may increase the chances of your return being scrutinized by the tax authorities, which can cause additional delays and complications in the future.
It’s important to file before the deadline to avoid these complications. Even if you miss the original deadline, the extension still provides an opportunity to file your return without further penalties, though late filing always comes with its own consequences.
Penalties and Consequences of Late Filing
The consequences of failing to file your ITR on time are severe and can lead to both financial and procedural complications:
Late Filing Penalty:
A penalty of up to ₹5,000 will be imposed for returns filed after the deadline but before December 31, 2025.
A penalty of ₹10,000 is applicable if the return is filed after December 31, 2025, and before the end of the assessment year.
For small taxpayers with income up to ₹5 lakh, the penalty can be reduced to ₹1,000 if the return is filed late.
Interest on Unpaid Taxes:
Section 234A imposes interest on unpaid taxes, which is calculated at 1% per month or part of the month on the outstanding tax amount.
Section 234B and 234C impose additional interest charges for underpayment of advance tax.
No Carry Forward of Losses:
Taxpayers who miss the ITR filing deadline may not be able to carry forward losses to subsequent years, potentially affecting tax-saving strategies for the future.
Delays in Refunds:
Filing after the deadline results in delayed refunds. Refund processing is typically quicker for timely filers, while those who file late will face longer wait times.
Increased Risk of Tax Scrutiny or Audits:
Late filers are more likely to be selected for audits, adding to the complexity of their tax filings and further delaying refunds.
Therefore, it is strongly advisable to file your returns within the given deadline to avoid penalties, unnecessary delays, and the possibility of being audited.
Specific Questions Answered
What if I miss the extended deadline of September 15, 2025? If you miss the extended deadline, you can file a belated return by December 31, 2025, but this will incur penalties and interest on unpaid taxes. Delays in refunds are also common.
How do I avoid penalties for late filing? The best way to avoid penalties is to file your ITR before the deadline. Set reminders and plan your filing in advance. If you need help, platforms like TaxBuddy can ensure that your filing is done on time.
Can I still file a revised return if I miss the deadline? Yes, you can file a revised return by the end of the assessment year. However, it is advisable to avoid revisions by filing a correct return on time.
How can I minimize delays in refund processing if I file late? To minimize delays, ensure all details in your return are accurate, including TDS credits and deductions. Additionally, use platforms like TaxBuddy for error-free filing and timely submission.
News Highlights & Official Announcements
As part of its commitment to improving the efficiency of the tax filing system, the CBDT has issued several updates regarding ITR filing. These include the revised deadlines and changes to the filing process, designed to streamline tax filings and ensure better compliance. The official announcements emphasize that taxpayers should take advantage of the extended deadlines to file accurate returns and avoid penalties. The CBDT also highlights the importance of filing within the stipulated deadlines for businesses and individuals who aim to secure timely refunds.
Conclusion
The extension of the ITR filing deadline provides crucial relief to taxpayers, businesses, and tax professionals. It allows taxpayers additional time to file accurate returns, ensuring better compliance with tax regulations and reducing the chances of errors or penalties. However, it is still important to file as soon as possible to avoid delays in refunds and penalties for late filing. TaxBuddy offers seamless tax filing assistance to help you meet your filing requirements before the deadline, ensuring a smooth and hassle-free experience. Don't wait until the last minute—take advantage of the extension and file on time. For anyone looking for assistance in tax filing, it is highly recommended to download theTaxBuddy mobile appfor 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?
TaxBuddy provides flexibility by offering both self-filing and expert-assisted plans. The self-filing option is designed for taxpayers who are comfortable handling their own tax filings but still want support with tools that ensure accuracy. On the other hand, the expert-assisted plan is tailored for those who prefer professional help, whether it's due to a complex tax situation or a desire to ensure complete accuracy. TaxBuddy’s expert team guides clients throughout the filing process, helping them avoid common mistakes and ensuring full compliance with tax laws. With both options available, TaxBuddy makes the tax filing process more accessible to a wide range of taxpayers.
Q2: Which is the best site to file ITR?
The best platform for filing your ITR depends on your preferences and the level of assistance you require. The official Income Tax Department portal is the standard choice for many taxpayers. However, for those looking for an easier, more efficient filing experience, TaxBuddy is an excellent alternative. It offers a user-friendly interface, AI-powered tools for accurate filing, and expert-assisted plans to guide taxpayers through every step. TaxBuddy’s services ensure that the filing process is smooth and error-free, and it also helps you stay on top of tax-saving strategies, offering personalized advice to ensure you file correctly and optimize your tax return.
Q3: Where to file an income tax return?
You can file your ITR in two main ways:
Official Income Tax Department Portal: This is the government’s official e-filing portal at incometax.gov.in, where you can file returns directly, access various ITR forms, and check the status of your return.
TaxBuddy: If you prefer a simplified filing process, TaxBuddy is a great option. It offers both self-filing tools and expert assistance, which can help you file accurately and avoid common mistakes. TaxBuddy’s platform also supports TDS verification and provides quick processing, making it easier for you to file your return and receive your refund faster.
Q4: Can I file my ITR after the deadline without penalties?
No, filing your ITR after the deadline will result in penalties and interest charges. The penalty for late filing can be up to ₹5,000, depending on when you file and the amount of taxes owed. Additionally, interest will be charged on any unpaid taxes under sections 234A, 234B, and 234C. However, you can still file a belated return until December 31, 2025, for FY 2024-25, but it will incur penalties and your refund may be delayed. It's always best to file on time to avoid these additional costs.
Q5: What happens if I fail to file ITR within the extended deadline?
If you miss the extended deadline of September 15, 2025, you can still file a belated return by December 31, 2025. However, missing the deadline will lead to penalties and interest on any unpaid taxes. Additionally, the processing of your refund will be delayed as belated returns are processed after timely filed returns. You may also lose out on certain benefits, such as the ability to carry forward certain losses, which can impact your financial planning. Filing as soon as possible is always the best option.
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 Income Tax Department’s official portal. You’ll need to log in with your PAN and Assessment Year details. Alternatively, if you’ve filed your return through TaxBuddy, you can track the status directly through the platform, where you’ll also receive updates on any issues with your refund or tax return. TaxBuddy ensures that all details are accurate, which can help speed up your refund processing.
Q7: Does TaxBuddy assist with TDS credit verification?
Yes, TaxBuddy assists in verifying TDS (Tax Deducted at Source) credits to ensure that all credits are correctly reflected in your return. TDS credits are crucial in determining your overall tax liability, and if they are not accurately accounted for, it can result in mismatches that delay your refund. TaxBuddy ensures that these credits are matched with your Form 26AS and applied correctly, minimizing the risk of discrepancies or errors that could slow down your refund processing.
Q8: How long does it take for TaxBuddy to process an ITR filing?
TaxBuddy processes ITR filings quickly, but the time it takes depends on the complexity of your tax situation. For simple filings, especially if you’re filing self-assist, the process can often be completed within a few hours. For more complex filings or expert-assisted plans, it might take longer, depending on the information required and the specific circumstances of your case. TaxBuddy aims to process returns efficiently, ensuring you receive your refund promptly and without errors.
Q9: What if I file ITR after the extended deadline?
If you file your ITR after the September 15, 2025 deadline, you can still submit a belated return by December 31, 2025. However, you will face penalties and interest on any outstanding taxes. The penalty can be up to ₹5,000, depending on when you file and how much tax is due. Moreover, the processing of your refund will be delayed since belated returns are processed after timely filed ones. It’s always advisable to file as soon as possible to avoid these penalties and delays.
Q10: Are there penalties for errors in my ITR filing?
Yes, errors in your ITR filing can lead to penalties, additional interest, and delays in processing. Common mistakes, such as incorrect income reporting, missed deductions, or misapplication of TDS credits, can trigger scrutiny or even an audit. To avoid these issues, it's important to file an accurate return, which TaxBuddy helps ensure. If you’re unsure about your filing, TaxBuddy’s expert team can assist you in checking the details and ensuring that everything is correct before submission.
Q11: Can I make corrections in my ITR after filing?
Yes, you can make corrections in your ITR after filing by submitting a revised return. If you realize there are errors or omissions in your original filing, you can file a revised return before the end of the assessment year. This is an important option, especially if you’ve missed any deductions, TDS credits, or made mistakes in your income reporting. TaxBuddy allows you to amend your return quickly and ensures the corrected version is properly filed.
Q12: Does TaxBuddy support all tax regimes for ITR filing?
Yes, TaxBuddy supports both the old and new tax regimes for ITR filing, providing flexibility based on your financial situation. The old tax regime allows you to claim various deductions, while the new regime offers lower tax rates without deductions. TaxBuddy’s platform helps you determine which tax regime will result in the most favorable tax outcome, ensuring that you make an informed choice that maximizes your savings while ensuring full compliance with the tax laws.
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