Income Tax Return Filing Due Date 2025: Deadlines & Penalties Explained
Understanding the Income Tax Return Filing Due Date
The income tax return filing due date for individuals in India typically falls on July 31 of the assessment year. For FY 2024-25, the deadline remains unchanged unless extended by authorities. Businesses and certain entities may have different timelines.
Why Timely Filing Matters
- Avoid late fees up to ₹5,000 under Section 234F
- Prevent interest charges on pending taxes
- Claim refunds faster if eligible
- Maintain compliance for loan/visa applications
Consequences of Missing the Deadline
Filing after the income tax return filing due date leads to penalties and restricted access to carry-forward losses. Recent reports highlight potential portal glitches causing delays – experts have urged extensions during technical issues.
Key Updates for 2025 Filings
- Revised ITR forms for non-corporates (ICAI format)
- Enhanced pre-filled data integration
- Tighter scrutiny of high-value transactions
How to Prepare for the Deadline
- Organize Form 16, bank statements, and investment proofs
- Reconcile TDS with Form 26AS
- Use the income tax return filing due date calculator for advance planning
- Verify returns within 30 days after submission
For investors tracking market trends, check our analysis of the Eicher Motors Share Price Surge to align tax planning with portfolio strategies.
Frequently Asked Questions
Q: Can NRIs file returns after the due date?
A: Yes, but penalties apply if taxable income exceeds ₹2.5 lakhs.
Q: What if I miss the income tax return filing due date by one day?
A: Late filing fees still apply, but reduced penalties for returns filed before December 31.
Have you started preparing your ITR documents yet? Share your tax-saving strategies below!
Trending in India • 04 Sep 2025 05:03
Source: https://m.economictimes.com/wealth/tax/itr-filing-deadline-needs-to-be-extended-as-portal-glitch-navratri-dushera-festive-season-and-new-icai-format-for-non-corporates-says-rtca/articleshow/123670648.cms
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