Hitesh Rattan
ITR 2025 Deadline
The deadline for filing Income Tax Returns for the financial year 2024–25 (assessment year 2025–26) is September 15, 2025 for accounts that do not require an audit.
What happens after September 15?
If you do not file your return by September 15, your Income Tax return will be treated as a belated return, and you may be slapped with penalty.
Penalty on ITR after September 15
As per reports, a late fee of up to Rs 5,000 will be charged if the return is filed after the due date.
What about income upto Rs 5 lakh?
The penalty for those with taxable income up to Rs 5 lakh is decreased to Rs 1,000.
Interest on Unpaid Tax
Reports suggest that, taxpayers with pending tax dues must also pay interest on the pending amount while filing a belated return.
Who will not pay ITR?
The answer is simple, if your taxable income does not exceed the basic exemption limit (before deductions), you are not required to pay any penalty.
Why filing ITR is important?
ITR act as proof of income, making it easier to get loans, credit cards, or visas.