ITR Filing FY 2024-25: Revised Deadlines, Penalties And Key Updates

The Central Board of Direct Taxes (CBDT) has extended the Income Tax Return (ITR) filing due date for AY 2025-26 from July 31 to September 15. The CBDT, in a press release, said the due date has been extended to facilitate a smooth and convenient filing experience for taxpayers.

Section 234A states that if you file an ITR and pay any pending self-assessment tax by the new due date, then you don't have to pay any interest.

Whether you are self-employed or salaried, here's everything you need to know about the new deadline, penalties and revised filing timelines.

Due date for ITR filing for different categories

Under the Income Tax Act, 1961, there are separate due dates for different categories. 

• For individuals, HUFs, AOPs, and BOIs, whose accounts do not require auditing, the due date has been extended to September 15, 2025.
• For businesses that require an audit, the deadline remains October 31, 2025.
• For businesses requiring transfer pricing reports (in case of international/specified domestic transactions), the due date is November 30, 2025.

In case of revised return or belated returns, the due date is December 31, 2025. 

Why has due date been extended?

With the introduction of the new tax regime in the ITR forms this year, the board decided to give an extension, as these changes took time to be implemented in the income tax filing system. Both the offline and online ITR utilities required time to update those changes.

What if you miss the due date?

Taxpayers who miss the due date will still have a chance to file an updated return under Section 139 (8A). Instead of the previous 24-month period, taxpayers will now have up to 48 months to file an updated return. They must, however, pay an additional 60 per cent and 70 per cent tax.

Penalties for missing the ITR filing deadline

According to Section 234A, one will be required to pay an interest on the outstanding tax amount at the rate of 1 per cent every month or part-month if you file your return after the deadline.

Section 234F levies a late filing cost of Rs 5,000 if your total income is more than Rs 5 lakh and Rs 1,000 if it is less than Rs 5 lakh.