ITR Filing 2025: Key Updates And Penalties

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CBDT extends ITR filing deadline for AY 2025-26 to September 15, 2025, for individuals

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The extension aims to facilitate a smooth and convenient filing experience for taxpayers

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Businesses requiring audit have a deadline of October 31, 2025, for ITR filing

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Companies needing transfer pricing reports must file ITR by November 30, 2025

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Belated or revised returns can be filed by December 31, 2025, with penalties

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Taxpayers can file updated returns within 48 months with additional tax payment

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Missing the deadline incurs interest on outstanding tax at 1% per month or part-month

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Late filing fee is Rs 5,000 for income above Rs 5 lakh and Rs 1,000 for below

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Taxpayers must pay additional tax for filing updated returns under Section 139 (8A)

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CBDT's extension allows taxpayers more time to file ITRs without interest payment

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