ITR Filing 2025: The government has extended the last date of filing income tax returns (ITR) for financial year 2024-25 (Assessment Year 2025-26) from 31 July to 15 September 2025. This decision has come up with great relief for taxpayers who were feeling difficulty in filing time due to new changes and technical upgradation of the portal. Increasing the date of filing tax returns is a matter of relief, but not paying tax on time can cost interest and penalty. Therefore, fill the tax on time and use the remaining time in returns filing to fill the information correctly.
No change in tax filling date
However, it is noteworthy that this increased date is only for ITR filing, not to fill the self-assessment tax. If a person is taxed on a person, then it is necessary to pay tax by 31 July 2025. If he pays tax after this date, additional interest and fine may be incurred, even if he files ITR by 15 September.
Why was the date of filling the return extended?
The Central Board of Direct Taxes (CBDT) has given several reasons to extend the date.
Large changes in ITR form: There have been many new reporting rules this year, especially about Capital Gains. Now it will be seen which property was sold at what time, due to which the calculation of tax has become difficult.
Technical upgradation of IT portal: The government needs time to update the e-filing portal according to new forms and features.
TDS data matching: The last quarter TDS returns of the financial year 2024-25 are to be filled by 31 May. Only after this, Form 16 and Form 26AS will be made correctly. This allows taxpayers to file returns without mistake.
Protection of crowds and mistakes: Chartered Accountants and Tax Experts will get more time so that they can fill a large number of returns properly and the common taxpayers will also get time to escape without any hasty.
What will happen if the tax is not paid on time?
If you do not pay tax till 31 July 2025, then you may have to pay the following interest.
Interest under Section 234A: If you do not pay tax on time or the return is filled late then interest will be charged.
Interest under Section 234B: If you have paid the advance tax less than 90%, then interest will also have to be paid.
CBDT is currently updating the system to automatically be automatic calculations and refund process of interest, but paying tax at the right time is the best remedy.
What to do?
Fill the self assessment tax by 31 July 2025, if tax is made on your income.
Carefully fill the ITR keeping in mind the new capital gains reporting and TDS matching.
Do not wait for the last date so that the portal problems or the server can be avoided.
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