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ITR Filing Last Date 2025: Filing income tax returns (ITR) is a crucial responsibility for all Indian taxpayers. It requires complying with tax laws, in addition to declaring all sources of income, deducting qualifying expenses, and reporting tax liabilities to the Income Tax Department.
The deadline for non-audit taxpayers to file their ITR for the financial year 2024–25 (Assessment Year 2025–26) has been extended to September 15, 2025. But if you miss the deadline, you can still file a late return by December 31, 2025, along with paying late fees and interest.
Missing the deadline may result in serious penalties and charges under Section 234A and a late filing fee under Section 234F.
1. Interest:
If you submit your return after the deadline, one has to pay interest at 1% per month or part of a month on the unpaid tax amount under Section 234A.
2. Late fees:
Late filing fees is charged under Section 234F. Rs.5,000 of the late fee will be charged on total income more than Rs. 5 lakh and Rs.1,000, if it falls beneath Rs.5 lakh.
3. Loss Adjustment
If you have losses from the stock market, mutual funds, homes, or any of your businesses, you can carry them forward and balance them against your income the following year.
This provision significantly reduces your tax liability in subsequent years. However, if you fail to file your ITR by the deadline, you will be unable to carry forward these losses.
