ITR Series:Day 4: Know Your Deadlines – All About ITR Filing Due Dates.

Overview

Filing your Income Tax Return (ITR) on time isn’t just about ticking a legal box — it’s a smart financial habit that protects your wallet and peace of mind. Think of it as your financial checkpoint: meeting deadlines means avoiding fines, securing your tax benefits, and keeping your money matters smooth and stress-free. Missing the date can cost you more than just penalties — it can delay your refunds and even block you from carrying forward losses to future years.

Let’s break down the key deadlines for the Financial Year 2024-25 (Assessment Year 2025-26), so you know exactly when to act and why it matters.

ITR Filing Due Dates for FY 2024-25 (AY 2025-26)
 

Who Needs to File by Which Date?

• Salaried Individuals / Pensioners → by 31st July 2025 ( Extended to 15th September 2025)
• Companies → by 31st October 2025
• Professionals/ Business owners required to get their accounts audited → by 31st October 2025
• Entities with international transactions (TP Report) → by 30th November 2025
• Late filers or corrections → can submit revised/belated returns till 31st December 2025

Consequences of Late Filing

• Late Filing Fee under Section 234F:
  INR 1,000 (income below INR 5L) | INR 5,000 (income above INR 5L)

• Interest Penalties:
  Under Sections 234A (delay in filing ITR), 234B (advance tax not paid within due date and margin as specified), and 234C (delay in payment of advance tac instalments)

• Loss of Tax Benefits:
  Cannot carry forward capital/business losses

• Refund Delay:
  The later you file, the later you get your money back

Benefits of Timely Filing

• Avoid penalties and notices
• Carry forward eligible losses
• Faster processing and refunds
• Essential for visa, loans, and credit card approvals
• Keeps your tax records clean and up to date

What You Should Do Now

• Mark the due date applicable to you
• Gather documents early (check Day 5 of our series!)
• Check Form 26AS and AIS for tax credits
• Don’t leave it to the last minute — early filers enjoy peace of mind and smoother refunds

Coming Up Next — Day 5: Document Checklist for a Hassle-Free ITR Filing – Prepare ahead to file with confidence!

                                                                                                                 Stay tuned!