ITR Filing Update: In the year 2025, the government extended the date for filing ITR for taxpayers not once, but twice. The last date for filing Income Tax Return (ITR) for the first year was extended from 31st July to 15th September and then extended by one more day to 16th September 2025. Taxpayers were given a lot of time to file returns this time. However, this time there was difficulty in filing returns. If for any reason you are not able to file ITR, you can file returns till December 31, 2025.
At the same time, the deadline for filing tax audit report has been extended from 30 September to 31 October 2025. For those to whom tax audit is applicable, the deadline for filing ITR is limited to the date of tax audit report. In such a situation, if you miss even this last date of billed ITR, you will get stuck.
If you have not filed ITR yet, it is not just a formality but an important document related to your financial records. The tax department has complete information related to your income through your bank transactions, TDS, AIS and other reports. If your income is above the tax slab and you have not filed the return, the department may consider it as concealment of income. If the tax department detects your undisclosed income, a penalty of 100% to 300% may be imposed. In serious cases, prosecution or legal action may also be taken.
Not filing ITR also affects your credit profile. Banks, NBFCs and embassies consider ITR as a reliable financial document for loans and visas. If you do not have ITR, you may face difficulty in applying for home loan, car loan, personal loan or visa. If you do not file ITR, you cannot adjust your capital loss or business loss in the coming years.