ITR Filing Last Date FY 2024-25 (AY 2025-26)

The Income Tax Return (ITR) filing deadline for the Financial Year (FY) 2024-25, corresponding to the Assessment Year (AY) 2025-26, has been extended to September 15, 2025, for individual taxpayers not requiring a tax audit. This extension provides an additional 45 days beyond the original deadline of July 31, 2025, to accommodate significant changes in ITR forms introduced in Budget 2024.

Important Deadlines for FY 2024-25 (AY 2025-26)

Consequences of Missing the Deadline

Failing to file your ITR by the stipulated deadline can lead to several repercussions:

• 1. Late Filing Fee: Under Section 234F of the Income Tax Act, a penalty is levied for late filing:

  • ₹1,000 if your total income does not exceed ₹5 lakh.

  • ₹5,000 if your total income exceeds ₹5 lakh.

• 2. Interest on Tax Due: An interest of 1% per month or part thereof is charged on the unpaid tax amount under Section 234A.

• 3. Loss of Adjustment: If you have incurred losses in investments or business, filing after the deadline disqualifies you from carrying forward these losses to offset future income.

Options for Late Filers

If you miss the initial deadline, the Income Tax Department provides avenues to rectify the situation:

• 1. Belated Return: You can file a belated return by December 31, 2025. However, this attracts the penalties mentioned above.

• 2. Revised Return: If you discover errors in your filed return, you can correct them by submitting a revised return by December 31, 2025.

ITR-1 & ITR-4 Excel Utility Released for AY 2025-26

The Excel Utility for ITR-1 and ITR-4 has been released by the Income Tax Department on 30th May 2025. Thus, kickstarting the tax filing season and enabling taxpayers eligible for these ITR forms to file their income tax returns for FY 2024-25 (AY 2025-26).  

For the most accurate and up-to-date information, always refer to official communications from the Income Tax Department or consult with a tax professional.