ITR Filing Alert: Avoid Last-Minute Rush, Save Penalties and Reduce Tax Burden

CBDT extends income tax return filing deadline to September 15. Timely tax payment will provide relief from interest under Section 234A.

New Delhi: The Income Tax Return (ITR) filing process for Financial Year 2024-25 (Assessment Year 2025-26) is currently underway. To facilitate taxpayers, the Central Board of Direct Taxes (CBDT) has extended the filing deadline from July 31 to September 15, 2025, reports Dynamite News correspondent.

Who will get the benefit?

This revised deadline will benefit those individuals, Hindu Undivided Families (HUF), Associations of Persons (AOP), and Bodies of Individuals (BOI) whose accounts are not required to be audited. The last date for filing ITR for them is now September 15, 2025.

Last dates prescribed for other categories

• Last date for businesses subject to audit—October 31, 2025
• Last date in cases involving transfer pricing reports—November 30, 2025
• Last date for revised or delayed returns—December 31, 2025

Section 234A: Relief from interest

According to the CBDT, if taxpayers file ITR by the revised due date (September 15, 2025) and pay the outstanding self-assessment tax, they will not have to pay any interest under Section 234A. This relief is especially for those taxpayers who want to make timely payment but could not file earlier due to any technical or practical reason.

What if the last date is missed?

If you miss the deadline of September 15, 2025, you still have a chance. Updated returns can be filed under Section 139 (8A). Earlier this facility was limited to 24 months, but now it has been increased to 48 months. However, for this you will have to pay 60 to 70 percent additional tax.

Information about late fees and interest

If you file ITR after the due date, then two major provisions apply:

Section 234A: On filing ITR late, 1% interest will have to be paid every month on the outstanding tax.

Section 234F:

• If the total income is more than ₹ 5 lakh: Late fee of ₹ 5,000
• If the total income is less than ₹ 5 lakh: Late fee of ₹ 1,000
• Legal action is also possible for not filing.

Not filing ITR on time not only attracts penalty and interest, but many times a notice can also be sent by the Income Tax Department. If you have tax liability and you deliberately do not file an ITR, then action can be taken against you in the category of crime.

The last date for filing ITR for FY 2024-25 is now September 15, 2025. Taxpayers can avoid penalty and interest by adhering to this deadline. By filing ITR in the right manner on time, you can not only avoid tax-related problems but also remain in a strong position for future loans, visas, and financial transactions.

Tip: Do not delay filing ITR and keep all tax-related information updated. Consult a tax consultant if needed.