ITR Filing Deadline: In such a situation, the Income Tax Department has clarified that it is necessary to file the return before this deadline so that there is no penalty or additional burden. However, if a taxpayer misses the deadline, his return will be considered a belated ITR and he will have to pay a late filing penalty.
ITR Filing Deadline: Important news for taxpayers. The last date for filing Income Tax Return (ITR) is now very close. Taxpayers have time till September 15, 2025 to fill the details of their income, that is, now only 10 days are left. Let us tell you that earlier this date was 31 July 2025, which has been extended by about one and a half months. In such a situation, the Income Tax Department has clarified that it is necessary to file the return before this deadline, so that there is no penalty or additional burden. However, if a taxpayer misses the deadline of September 15, his return will be considered as belated ITR and he will have to pay late filing penalty.
How much penalty will have to be paid
According to section 234F of the Income Tax Act, 1961, if a taxpayer files ITR after the due date, then a penalty of up to ₹ 5,000 is imposed on him. But for taxpayers whose total taxable income is up to ₹ 5 lakh, the penalty for late filing is only ₹ 1,000. This penalty is applicable even if the taxpayer does not have any tax due and he just has to file ITR.
Who is required to file ITR?
According to the Income Tax Act, certain conditions have been fixed, on the basis of which it becomes mandatory for individuals to file ITR. These conditions are given in the seventh provision of section 139 (1) of the Income Tax Act:
a) If a person has spent ₹ 2 lakh or more on foreign travel for himself or for someone else (whether at one time or in aggregate throughout the year).
b) If a person has paid electricity bills of ₹1 lakh or more (in one go or combined) during the financial year.
c) If a person has deposited ₹1 crore or more in his current account (in one or more accounts) in a year.
Penal interest on tax
Not only penalty but also penal interest (interest) has to be paid on the outstanding tax for filing late ITR. That is, if you have tax due and you have not filed the return on time, then along with the amount of tax, you will also have to pay interest. This interest is charged under the relevant sections (such as 234A) of the Income Tax Act.
Why should one file income tax return?
According to the Income Tax Department website, filing ITR is the duty of every taxpayer. It not only shows your contribution to the development of the country, but also gives you the identity of being a responsible citizen. Along with this, income tax return also proves your credit worthiness. That is, when you want to take a facility like loan or credit card from a bank or financial institution, ITR becomes an important document for you. Filing ITR on time can help you easily avail loans, bank credit and other financial benefits.
Benefits of filing ITR-
– Legal responsibility is fulfilled: Filing ITR on time is the duty of the taxpayer and it is legally required.
– Credit worthiness increases: By filing ITR, banks and financial institutions recognize your financial status and payment capacity.
– Loans and credit cards are easy to get: Through ITR, you can easily get facilities like home loan, personal loan or credit card from the bank.
– Easy to get tax refund: If you have deposited more tax in a year, then by filing ITR you can easily get refund.
– Contribution in the development of the country: By filing ITR on time, you directly contribute to the economic progress and development of the country.
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