Income Tax Return Filing Deadline Pushed to September 15, 2025: What Taxpayers Need to Know.

the Central Board of Direct Taxes (CBDT) has announced an extension of the Income Tax Return (ITR) filing deadline for the Financial Year 2024-25 (Assessment Year 2025-26). the new deadline is now set for September 15, 2025, replacing the earlier due date of July 31, 2025. This extension aims to accommodate recent amendments in tax laws, facilitate system upgrades, and provide taxpayers with adequate time to comply with the revised filing requirements. Key Highlights: - Extended Filing Period: Taxpayers now have an additional 46 days to file their returns, reducing the pressure of last-minute submissions. - Differentiated Deadlines: While the general ITR filing deadline has been extended to September 15, 2025, taxpayers whose accounts are required to be audited under the Income-tax Act will have a different deadline. these taxpayers are required to submit their tax audit reports by October 7, 2025, as per the CBDT's earlier notification. - Impact on Tax Refunds: the extension of the filing deadline is expected to result in taxpayers receiving 33% more interest on their tax refunds this year. This increased amount is attributed to the additional time the government retains the excess tax paid, thereby accruing more interest for taxpayers. Implications for Taxpayers:For Non-Audited Accounts: Individual taxpayers, including salaried employees and those whose accounts are not required to be audited, now have until September 15, 2025, to file their returns. This extension provides additional time to ensure the accuracy of their returns, potentially reducing the likelihood of errors and subsequent penalties. For Audited Accounts: Taxpayers whose accounts are required to be audited under the Income-tax Act must submit their tax audit reports by October 7, 2025. This deadline extension allows these taxpayers to complete their audits and file their returns accurately and in compliance with the updated regulations. Penalty for Late Filing: Under Section 234F of the Income Tax Act, 1961, a penalty is levied for filing a belated ITR. the penalty amount is as follows: For individuals with income up to ₹5 lakh: A penalty of ₹1,000 is applicable. For individuals with income above ₹5 lakh: A penalty of ₹5,000 is applicable. It's important to note that these penalties apply even if the belated ITR shows zero tax payable. Additionally, interest under Section 234A is charged at 1% per month on any unpaid tax amount from the original due date until the date the tax is fully paid.