ITR Filing Deadline Alert: Don’t Miss the September 15th Cutoff!
The Income Tax Department has issued a final reminder for the ITR filing deadline for the financial year 2024-25 (Assessment Year 2025-26), urging taxpayers to complete their returns by September 15, 2025.
The government had already extended the original July 31st deadline, and authorities have indicated that no further extensions are likely for individuals and non-audit cases.
Key Reasons to File On Time:
- Avoid Penalties: A late filing fee of up to Rs 5,000 and a 1% monthly interest on outstanding tax will be charged.
- Maintain Financial Records: Your ITR is a crucial document for loan applications, visa processing, and other financial transactions.
- Claim Refunds: Timely filing ensures you can claim any tax refunds you are owed.
Why Are Experts Concerned?
Despite the firm deadline, tax professionals and chartered accountants are calling for an extension. They point to several persistent challenges:
- Delayed ITR Forms: The official utilities were released late, leaving a condensed filing period.
- Portal Glitches: The Income Tax portal is facing ongoing technical errors and performance issues.
- Data Mismatches: Taxpayers are struggling with discrepancies between their AIS, TIS, and 26AS data.
- Conflicting Deadlines: The ITR deadline for non-audit cases clashes with other critical due dates for GST and tax audits.
While regional extensions might be possible due to localized issues like inclement weather, experts advise taxpayers to file as soon as possible to avoid penalties and ensure a smooth process.