ITR Filing Due Date 2025: Live Updates and Key Information
Thank you for reading this post, don't forget to subscribe!Final Day to File: September 15, 2025
Today is the final day for many taxpayers to file their Income Tax Returns (ITR) for the Assessment Year (AY) 2025-26. The Income Tax Department has reported receiving over 6.69 crore returns so far, with a large number already processed. Timely filing is crucial to avoid late fees, interest charges, and delays in receiving refunds.
Why the Due Date was Extended
The original July 31 deadline for AY 2025-26 was extended to September 15 due to “structural and content revisions” in the ITR forms. These changes, notified in late April and early May, required updates to filing utilities and the back-end system, leading to a shortened filing window for many.
Common ITR Forms Explained
- ITR-1 (Sahaj): Applicable for resident individuals with a total income not exceeding ₹50 lakh. Income sources can include salary/pension, one house property, and other sources (excluding lottery and horse racing winnings). It also covers agricultural income up to ₹5,000.
- ITR-2: For individuals and Hindu Undivided Families (HUFs) who have income from salary/pension, more than one house property, capital gains, or other sources, but do not have business or professional income.
Important Reminders for Taxpayers
- Reconcile and Verify: Before filing, double-check your income and tax credits against Form 26AS and the Annual Information Statement (AIS) to avoid discrepancies that can trigger notices from the tax department.
- Choose the Correct Form: Using the wrong ITR form can lead to rejection or processing delays. Ensure the form you select matches your income profile (e.g., ITR-1 for salaried individuals up to ₹50 lakh, ITR-3 for business income).
- Avoid Common Mistakes:
- Using the wrong assessment year (AY 2025-26 for FY 2024-25).
- Entering incorrect personal or bank details.
- Not disclosing all income sources.
- Not reconciling multiple Form 16s if you switched jobs.
- Filing Options: You can file your ITR online through the official e-filing portal or use third-party platforms. While the government portal is free, other platforms like ClearTax, Tax2Win, and TaxBuddy offer self-filing and expert-assisted services at various price points.
For Business and Professional Income
- Form 10-IEA: Taxpayers with business or professional income must submit Form 10-IEA by the deadline to remain in the old tax regime and claim deductions and exemptions.
- Futures and Options (F&O) Income: Income from F&O trading is classified as non-speculative business income under Section 43(5) and must be reported under the “Profits and Gains of Business or Profession” (PGBP) head.
Penalties for Late Filing
Filing after the deadline can result in a late fee of up to ₹5,000, along with interest charges and a higher risk of scrutiny. Additionally, you may lose access to certain deductions and exemptions.
Stay updated with official sources for any last-minute announcements regarding the deadline.
