Non-audit income tax returns (ITRs) must be filed by September 15th. You risk penalties, postponed refunds, and lost tax benefits if you miss this deadline. Despite calls for an extension of the 2025 ITR filing deadline, the administration has not yet issued an official statement. Tax professionals recommend that people submit their ITRs well in advance of the September 15 deadline. What occurs if you miss the deadline is as follows:
Who Must Submit by September 15th?
The annual deadline for filing an ITR is typically July 31. However, the government extended the deadline until September 15 because the income tax department delivered the ITR forms late because of several form revisions. The deadline for non-audit taxpayers—which now includes the majority of salaried people, pensioners, non-resident individuals, and others whose accounts don’t need to be audited—is September 15, 2025.
If a business or professional is compelled to submit to a tax audit, they must file their ITR by October 31, 2025, and submit their audit reports by September 30, 2025.
The deadline for filing the ITR is November 30, 2025, for taxpayers who are required to submit a transfer pricing report (because of certain domestic or overseas transactions).
How Do You Handle Missing the Deadline?
There are various drawbacks to filing after the deadline:
Late Fee: If you file after September 15 but before December 31, you will be penalized Rs 5,000 under Section 234F. The maximum fine for individuals earning less than Rs 5 lakh is Rs 1,000.
Interest on Tax: Sections 234A, 234B, and 234C impose interest at the rate of one percent per month on any outstanding taxes.
Loss of Carry-Forward Benefits: If the return is filed after the deadline, losses from trading, business, or real estate cannot be carried forward.
Refund Delays: Refund seekers will have to wait longer.
Department Scrutiny: The income tax department may issue notices and conduct more thorough checks if there is noncompliance.
The Benefits of Filing Early
You can avoid the last-minute rush when the income tax portal frequently lags because of high traffic by filing far in advance of the deadline. Additionally, early filers avoid the stress of unexpected compliance concerns and receive their refunds more quickly.
