blog-image

Income Tax Return Deadlines & Penalties (FY 2024–25)

Income Tax Return Deadlines & Penalties (FY 2024–25): A Humane Guide

Filing your income tax return (ITR) on time is more important than ever! Missing the ITR filing due date in India for FY 2024–25 can lead to late fees, penalties, and even a loss of certain tax benefits. Here’s a practical, human-friendly guide to help you stay compliant and stress-free.

Key ITR Filing Due Dates (Assessment Year 2025–26)

  • For Most Individuals (No Audit):
    September 15, 2025
    (The government extended the non-audit deadline for salaried employees and most individuals from July 31 to September 15, 2025)

  • For Businesses Requiring Audit (e.g., companies, firms, partnerships with audit):
    October 31, 2025

  • For Businesses Requiring Transfer Pricing (Form 3CEB):
    November 30, 2025

  • Revised and Belated Return (after original due date):
    December 31, 2025
    (You can still file a belated or revised ITR until this date, but late fees will apply)

Tip: Even if you have no income tax payable or only need to file a NIL return, these deadlines apply!

Late Fees & Penalties for Missing ITR Deadlines

  • Late Filing Fee (Section 234F):

    • ₹5,000: If you file after the due date but before December 31, 2025

    • ₹1,000: If your total income is below ₹5 lakh and you file late

  • Interest on Tax Due (Section 234A):

    • 1% per month or part thereof on any unpaid tax amount, from the original due date until you file.

  • Belated/Delayed Return:

    • Can now be filed up to December 31, 2025 (last chance), but with a late fee and interest if there’s any outstanding tax.

  • Other Consequences:

    • Cannot carry forward certain losses (like capital gains/business loss, except house property loss).

    • Higher chance of notice/scrutiny from the Income Tax Department.

    • Trouble getting loans or visas, as ITR-V is often required.

Quick Table: ITR Deadlines & Penalties (FY 2024–25)

Category Due Date Late Fee (if missed)
Individuals (no audit) Sep 15, 2025 ₹1,000 or ₹5,000 (Section 234F)
Business requiring an audit Oct 31, 2025 ₹5,000 (Section 234F)
Transfer pricing (Form 3CEB) Nov 30, 2025 ₹5,000 (Section 234F)
Belated/Revised Return Dec 31, 2025 Only till this date, with a fee
 

What If You Miss All Deadlines?

  • You cannot file ITR for FY 2024–25 after December 31, 2025.

  • Unreported income may be treated as “undisclosed,” attracting a penalty and prosecution in serious cases.

Expert Pro Tips

  • Don’t wait till the last day—the portal gets overloaded and processing can take longer.

  • File even NIL returns to keep your PAN active and create a compliant financial history.

  • Reconcile AIS/TIS and Form 26AS for TDS credits before filing.

  • Set calendar reminders for all deadlines!

  • E-verify your return promptly—unverified returns are treated as not filed.

  • Seek professional help for complicated cases (multiple Form 16s, foreign assets, business income).

Humane Bottom Line

Filing on time isn’t just about avoiding Rs. 5,000 in late fees—it’s about peace of mind, smooth access to loans and visas, and building a good track record with the tax department. Stay organized, use the correct forms, and don’t procrastinate. You’ll thank yourself later!

Visit - https://www.filingworld.in/

#filingworld