Source: Income Tax India
The Income Tax Department of India is reminding taxpayers that the due date for filing their Income Tax Return (ITR) for the financial year 2024–25 is September 15, 2025. Those who fail to file by this date still have an option to submit a belated return under Section 139(4) of the Income Tax Act.
According to the official rules, a belated return can be filed up to December 31, 2025 (three months before the end of the relevant assessment year 2025–26) or before the completion of the assessment, whichever comes earlier.
This means that while there is some breathing space after the deadline, filing late will invite penalties, interest charges, and restrictions on tax benefits.
What is an ITR?
An Income Tax Return (ITR) is a form submitted to the Income Tax Department that declares your income, expenses, tax liability, and taxes paid during a financial year. Filing ITR is compulsory if your income exceeds the prescribed exemption limit. It not only keeps you compliant but also helps you:
- Claim tax refunds.
- Carry forward eligible losses.
- Provide proof of income for loans, visas, and other financial transactions.
What Happens If You Miss the September 15 ITR Deadline?
If you fail to file ITR by the deadline, you can still file it later — but it becomes a belated return. As per the Income Tax Department’s official guidelines:
- A belated return can be filed up to December 31, 2025 (three months before the end of the assessment year) or before the assessment is completed, whichever comes first.
- Filing after the due date attracts penalties, interest, and restrictions on tax benefits.
Consequences of Filing a Late ITR
| Consequence | Explanation |
|---|---|
| Belated Return Filing | Allowed under Section 139(4) up to 31 Dec 2025, or before completion of assessment. |
| Late Fee (Sec 234F) | Penalty of up to ₹5,000, depending on income. |
| Interest on Tax (Sec 234A) | Interest charged on any unpaid tax until payment is made. |
| Losses Cannot Be Carried Forward | Except house property loss, other losses like business or capital gains cannot be carried forward. |
| Forfeiture of Some Deductions | Certain exemptions/deductions (e.g., under Sections 10A, 10B) may be disallowed. |
| Refund Delays | Refunds may take longer to process for late filers. |
| Compliance Impact | Late ITR filing may affect loan, visa, or financial proof requirements. |
Why Filing on Time Matters
Filing your ITR before the deadline not only avoids penalties but also ensures:
- Avoidance of unnecessary interest and late fees.
- Quicker processing of refunds.
- Eligibility to carry forward losses for future tax adjustments.
- Smooth financial documentation for credit, loans, and visa applications.
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