ITR Filling– Big update for taxpayers. The last date for filing Income Tax Return (ITR) for FY 2024-25 and Assessment Year 2025-26 is 15 September 2025. However, many tax professionals and organizations have written a letter to Finance Minister Nirmala Sitharaman demanding an extension of the deadline.
They say that there are constant technical glitches on the portal and the ITR Excel utility was also released late. According to reports, experts believe that the chances of extending the deadline are very low.
Penalty on belated return
As per the Income Tax rules, if a taxpayer does not file ITR by September 15, he can file a belated return. Under Section 139(1) of the Income Tax Act, there is a provision to file and revise the return till December 31, 2025. Penalty will also be applicable on delay:
1. Rs 5,000 fine for filing ITR between September 15 and December 31, 2025.
Small taxpayers, whose income is less than Rs 5 lakh, will have to pay only Rs 1,000 penalty.
Why timely filing is important?
Tax experts believe that waiting till the last minute can slow down or down the ITR portal, which can further increase problems. Therefore, taxpayers should use the remaining time to file returns promptly and correctly. Many professional associations have sent a letter to the Finance Minister demanding extension of the deadline for ITR filing and tax audit report. Jodhpur Tax Bar Association demanded extension for both ITR filing and tax audit report.
Karnataka State Chartered Accountants Association (KSCAA), Advocates Tax Bar Association (ATBA) and ICAI’s Central India Regional Council (CIRC) also raised the same demand. ATBA especially recommended extending the deadline for non-audit ITR to October 15.
Tax experts said that filing ITR on time is the safest option. Despite technical glitches, late filing can be costly due to penalties and fines on delayed returns. Therefore, taxpayers should use the remaining time to file returns correctly and accurately.
Although many professional bodies have raised the demand for extension of the deadline, experts believe that this possibility is less. Therefore, it is considered the safest and practical option for the taxpayer to file ITR on time and correctly, without waiting for the last minute.
