Srinagar, July 15: The Central Board of Direct Taxes (CBDT) has announced an extension of the Income Tax Return (ITR) filing deadline to ensure a smoother and more convenient experience for taxpayers. According to Section 234A of the Income Tax Act, individuals who file their ITR and pay any outstanding self-assessment tax by the new deadline will not be liable to pay interest.
This extension applies to a wide range of taxpayers, including both salaried individuals and the self-employed. It’s important to note that the due dates for filing vary depending on the taxpayer category, as defined under the Income Tax Act, 1961.
For individuals, Hindu Undivided Families (HUFs), Associations of Persons (AOPs), and Bodies of Individuals (BOIs) whose accounts are not subject to audit, the new deadline has been extended to September 15, 2025. This revised timeline gives taxpayers additional time to ensure accuracy and compliance in their returns.
• For businesses that require an audit, the deadline remains October 31, 2025.
• For businesses requiring transfer pricing reports (in case of international/specified domestic transactions), the due date is November 30, 2025.
In case of revised return or belated returns, the due date is December 31, 2025.
Why has due date been extended?
With the introduction of the new tax regime in the ITR forms this year, the board decided to give an extension, as these changes took time to be implemented in the income tax filing system. Both the offline and online ITR utilities required time to update those changes.
What Happens If You Miss the ITR Filing Deadline?
If you miss the due date for filing your Income Tax Return (ITR), you still have an opportunity to file an updated return under Section 139(8A) of the Income Tax Act. Previously, this was allowed within 24 months, but now taxpayers have up to 48 months from the end of the relevant assessment year to file. However, filing late comes at a cost—additional tax of 60% to 70% on the due amount may apply, depending on when the updated return is filed.
Penalties and Interest
Under Section 234A, if you delay filing your ITR, you will be charged interest at 1% per month or part of a month on any unpaid tax until the return is filed. The longer the delay, the more interest you’ll owe—so it’s advisable to file as early as possible to avoid penalties and extra charges.
