ITR Filing Due Date Extension Live: No Extension In Deadline — Check Process, Penalty And Mistakes To Avoid
The Income Tax Department clarified on Monday that deadline for filing income tax returns or ITRs is September 15, 2025.
ITR Last Date: Multiple Income Sources
The income from multiple sources, such as investments, capital gains, rental properties and multiple employers, should be declared properly in the ITR filing to avoid notices and penalties.
For taxpayers with multiple sources of income, it’s advisable to declare all income sources and amounts clearly in the ITR form. It’s also necessary to submit relevant documents where needed.
ITR Last Date: What's The Penalty For A Missed Deadline?
If one fails to file the ITR by the due date, then they could face a penalty under Section 234F of the Income Tax Act, 1961. A delay could attract a late fee of Rs 5,000.
However, if the total income is below Rs 5 lakh, the penalty is limited to Rs 1,000. It’s advisable to file your ITR within the due date and avoid the penalties.
Income Tax Filing Last Date: Who All Need To File ITR?
Filing an ITR is an important responsibility for taxpayers in India. The Income Tax Act requires certain individuals and businesses to file returns based on their income and financial activities. It also helps with tax refunds, maintaining financial records, and getting loans or visas.
The government has increased the Section 87A rebate limit from Rs 7 lakh to Rs 12 lakh, effectively making annual incomes up to Rs 12.75 lakh tax-free for salaried individuals. The revision includes a Rs 75,000 standard deduction.
ITR Filing 2025: Step-By-Step Guide To Filing Returns
The full process from downloading the Excel to declaration and validation and verification is a ten-step process. One needs to start by gathering all the relevant documents. One needs to then check thier Form 26AS and AIS.
The correct ITR form needs to selected, and then the taxpayer needs to reconcile their bank and investment accounts. Additionally, they need to also report exempt income before verifing tax deductions and claim them. One can then, file and e-verify their returns.
ITR Filing 2025: Mistakes To Avoid While Filing Returns
While e-filing has made the process simpler, there are times taxpayers end up making mistakes that could lead to penalties, scrutiny, or delayed refunds. In some cases, you may even receive a notice from the Income Tax Department for any errors in your ITR submission.
Here are five mistakes you cannot afford to make while filing your ITR.
