The deadline to file ITR is September 15. But experts say that you should not wait for the deadline to file ITR. If you do not file your return on time, you may even have to go to jail. Know the full details…
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New Delhi: The Income Tax Department had extended the last date for filing ITR for the financial year 2024-25 from July 31 to September 15, 2025. This is definitely a relief, but it does not mean that you become careless. If you do not file the return on time, you may have to face penalty interest, loss of tax benefits and even jail action.
Negligence will be costly
The Income Tax Department (CBDT) had extended the last date for filing ITR for the financial year 2024-25 (assessment year 2025-26) from July 31 to September 15, 2025. This increase was done due to structural changes in the ITR form, such as changes in Capital Gains Tax, new tax slab system etc. But this relief is limited only to the date. If you do not file the return even by September 15, then you may get into many problems.
Late filing fee also
If you do not file the return by the due date, then you will have to pay late filing fee under section 234F of the Income Tax Act. If your total taxable income is more than 5 lakhs, then a fine of up to 5,000 can be imposed. For those with income less than 5 lakhs, this penalty is limited to 1,000.
1% interest will have to be paid every month
If the return is filed late, then 1% interest will have to be paid every month under section 234A. This interest will be charged every month or part thereof after 15 September 2025, until the return is filed or ‘Best Judgment Assessment’ is done by the Revenue Department. This interest can put an additional burden on the tax liability.
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