ITR Return Filing: The government has extended the last date for filing an Income Tax Return (ITR) for the financial year 2024-25 from July 31 to September 15, 2025. This decision has given great relief to those taxpayers who were facing difficulty in filing returns on time due to new changes and technical upgrades of the portal.
Extension of the date of filing the return is a matter of relief, but non-payment of tax on time may attract interest and penalties. So, pay tax on time and use the time left in filing a return to fill in the information correctly. It will be beneficial for you.
No change in the date of filing tax
However, it is important to note that this extended date is only for filing ITR and not for filing Self-Assessment Tax. If a person makes the tax, he has to pay it by July 31, 2025. If he pays after this date, additional interest and penalty can be levied, even if he files ITR by September 15. Hence, paying tax on time is extremely important.
Why was the date for filing returns extended
The Central Board of Direct Taxes (CBDT) has given several reasons for extending the date:
Major changes in the ITR form
This year many new reporting rules have come, especially with regard to capital gains. Now it will be seen at what time which property was sold, due to which the technical calculation has become more difficult than before. These changes were quite complex for the taxpayers.
Technical upgradation of IT portal
The government needs time to update the e-filing portal as per the new forms and features. This will ensure that the portal functions smoothly.
TDS Data Matching
TDS returns for the last quarter of the financial year 2024-25 have to be filed by May 31. Only then will Form 16 and Form 26AS be prepared correctly. This will enable taxpayers to file returns without mistakes. This will ensure that taxpayers can file returns with correct information.
Avoiding rush and mistakes
Chartered accountants and taxpayers will get more time to file more returns correctly and common taxpayers will also get time to avoid mistakes without hurrying. This is a relief for taxpayers.
What will happen if you do not pay tax on time
If you do not file tax by July 31, 2025, you may have to pay the following interest:
Interest under section 234A
If you do not file tax on time or file the return late, interest will be charged.
Interest under section 234B
Even if you have paid less than 90% of the advance tax, interest will have to be paid. CBDT is currently updating the SIM to automate the calculation of interest and the refund process, but filing taxes on time is the safest solution.
What to do
If there is any doubt about your income, file the assessment report by July 31, 2025.
File ITR carefully keeping in mind the new capital gain reporting and TDS matching.
Don’t wait for the last date to avoid portal crashes or server slowdowns.
Start your preparation today.