The last date for ITR filing for the financial year 2024-25 is September 15, 2025. If the deadline is missed, taxpayers can file a belated return until December 31, 2025, but it will attract a penalty. If the income is up to ₹5 lakh, the penalty will be a maximum of ₹1,000, and for income exceeding ₹5 lakh, it will be ₹5,000.
ITR Filing 2024-25: The last date for filing Income Tax Returns (ITR) has been set as September 15, 2025. Taxpayers who have not yet filed their returns can still submit a belated return after this date, until December 31, 2025. However, those who file their returns late will have to pay a penalty under Section 234F of the Income Tax Act. Those with a taxable income of up to ₹5 lakh may have to pay a penalty of up to ₹1,000, and those with taxable income above ₹5 lakh may face a penalty of up to ₹5,000.
Returns Can Be Filed Even After the Deadline Expires
As per Section 139(4) of the Income Tax Act, if a taxpayer fails to file their return by September 15, they can file a belated return. The last date for filing late returns this year has been set as December 31, 2025. This means taxpayers will have an additional three months after September 15. However, returns filed during this period will be considered late and will be subject to a penalty.
How Much Will Be the Penalty
A penalty is levied on late returns under Section 234F of the Income Tax Act. The penalty amount is based on the taxable income.
- If the taxpayer's taxable income is ₹5 lakh or less, the penalty will be a maximum of ₹1,000.
- If the taxable income is more than ₹5 lakh, the penalty can be up to ₹5,000.
This penalty is applicable even if the tax liability is very low or zero.
Disadvantages of Filing Late Returns
Apart from the penalty, filing returns late can lead to several other issues. The biggest problem is that you might be deprived of certain deductions and benefits. Furthermore, if returns are not filed on time, the process can become more complicated later due to technical difficulties.
Last-Minute Rush Can Increase Problems
Experience from previous years suggests that the portal experiences increased pressure as the deadline approaches. The server often slows down, and taxpayers face inconvenience repeatedly. In such a scenario, if someone waits until the last moment to file their return, they might face difficulties and incur the penalty for late filing.
Only One Way to Avoid Penalty
Although the government has provided the facility to file belated returns, it is not entirely penalty-free. Therefore, all taxpayers should try to file their returns before the due date. This not only helps avoid penalties but also ensures timely completion of tax-related formalities, thereby preventing future complications.
