Income Tax Return Filling– Good news for taxpayers. The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns (ITR) for the financial year 2024-25 and assessment year 2025-26. Earlier the last date for filing ITR was 31 July 2025, which has now been extended to 15 September 2025. The extension of the income tax return filing deadline will provide relief to many taxpayers.

The extension of the deadline for filing income tax returns will provide relief to many taxpayers.

What is the reason for extending the deadline for ITR filing?

According to the statement issued by Income Tax India, the reason behind extending the deadline for ITR filing is the changes in the ITR form, system development requirements and technical updates related to TDS credit. Therefore, taxpayers have been given additional time to file ITR. Apart from this, this decision has also been taken due to the taxpayers opting for the new tax system and the increased information requirements in the forms. So that taxpayers do not file returns in a hurry. They get enough time to understand the form and fill in the details.

What happens if I miss the ITR filing deadline?

If you are unable to file income tax return even by 15 September 2025, then you will have time till 31 December 2025 to file belated return. But along with this you will also have to pay a penalty. If your total income is Rs 5 lakh or more, then you will have to pay a fine of up to Rs 5000. If your total income is less than Rs 5 lakh, then you will have to pay a fine of Rs 1000. Apart from this, under section 234A of the Income Tax Act, interest will be charged at the rate of 1% per month on the outstanding tax amount.

Not only this, if you do not file ITR on time, then you also do not get the benefit of carrying forward the loss from stock market, mutual funds, property or business to the next year.

Documents required for ITR filing

– PAN and Aadhar card.

– Form 16 received from employer.

– Form 26AS and AIS.

– Bank statement and interest certificate

– Details of capital gains.

– Information about income from shares, mutual funds, or property.

– Proof of rental income.