ITR Filing Deadlines for FY 2024–25

 

ITR Filing Deadlines for FY 2024–25 (AY 2025–26): All You Need to Know

Filing an Income Tax Return (ITR) is one of the most important financial responsibilities for individuals and businesses in India. The Income Tax Department sets deadlines every year, and taxpayers are expected to complete the process within the specified time frame to avoid penalties or interest. For the Financial Year 2024–25 (Assessment Year 2025–26), the deadlines vary depending on the type of taxpayer.

Recently, the Central Board of Direct Taxes (CBDT) extended the due date for certain taxpayers, giving them more time to file their returns. Here’s a detailed look at the new deadlines and what they mean for different categories of taxpayers.

1. Deadline for Individuals (No Audit Required)

For most salaried employees and individual taxpayers who are not required to get their accounts audited, the original deadline was July 31, 2025.

However, the CBDT has now extended this deadline to September 15, 2025. This extension comes as a relief for millions of taxpayers, especially those who need additional time to gather documents such as Form 16, interest certificates, capital gains statements, and other income-related details.

Key Point:

• New Deadline: September 15, 2025

• Applies to: Salaried individuals, pensioners, freelancers, and small taxpayers without audit requirements.

2. Deadline for Businesses and Professionals (Audit Required)

For taxpayers whose accounts need to be audited under the Income Tax Act, the deadlines are different. These include businesses, professionals, and certain entities that cross the prescribed turnover limits.

The due date for such taxpayers is generally October 31, 2025. This allows additional time for audited financial statements to be prepared and submitted.

Key Point:

• Deadline: October 31, 2025

• Applies to: Businesses, professionals, and firms requiring audits.

3. Deadline for Companies and Transfer Pricing Cases

Companies and taxpayers involved in international or specified domestic transactions requiring transfer pricing reports have even more time. For them, the deadline usually falls on November 30, 2025.

This longer time frame is provided because preparing transfer pricing reports and complying with international tax laws requires more documentation and detailed reporting.

Key Point:

• Deadline: November 30, 2025

• Applies to: Companies and entities involved in transfer pricing compliance.

4. Why the Extension Matters

The extension from July 31 to September 15 for individuals is significant for a few reasons:

1. More Preparation Time: Taxpayers often face delays in receiving investment proofs, interest certificates, or Form 16 from employers and banks.

2. Ease of Filing: With more time, individuals can double-check details, claim eligible deductions, and avoid last-minute errors.

3. Reduced Server Load: Extending the deadline spreads out the volume of return filings, helping to avoid technical glitches on the Income Tax portal.

5. Penalties for Late Filing

While extensions provide relief, it’s important to note the consequences of missing the deadline:

• A late filing fee of up to ₹5,000 may apply under Section 234F of the Income Tax Act.

• Interest may be charged on any unpaid tax liability.

• Losses, such as capital losses, cannot be carried forward if the return is filed after the deadline.

This makes timely filing crucial, even with the extended deadline.

6. Tips for Smooth ITR Filing

1. Gather Documents Early: Collect Form 16, TDS certificates, and bank statements in advance.

2. Verify Form 26AS and AIS: Cross-check your income details with the Annual Information Statement on the IT portal.

3. Choose the Right ITR Form: Select the correct form based on your income sources (salary, business, capital gains, etc.).

4. File Online: Use the official Income Tax e-filing portal for faster and error-free submission.

5. Don’t Wait Till the Last Day: Filing early reduces the risk of errors and avoids website traffic issues.

Conclusion

The CBDT’s decision to extend the ITR filing deadline for individuals without audit requirements to September 15, 2025 provides welcome relief to taxpayers. However, it’s important not to wait until the last minute. Filing your ITR on time ensures compliance, avoids penalties, and helps you stay financially disciplined.

Whether you’re a salaried individual, a business owner, or a company, knowing your due date and preparing in advance will make the process smooth and stress-free.