ITR Filing Last Date for FY 2024-25 (AY 2025-26)
Filing your Income Tax Return (ITR) is crucial for managing tax obligations, and staying updated on deadlines ensures compliance. This guide outlines ITR filing due dates for different taxpayer categories and highlights penalties for missing them.
Budget 2025 Update on ITR Filing
The Union Budget 2025 has extended the deadline for updated income tax returns from 2 years to 4 years from the end of the relevant assessment year. This gives taxpayers additional time to rectify their filings.
ITR Filing Deadlines for Different Taxpayers
The due date for non-audit taxpayers is 31st July 2025, while businesses requiring audits must file by 31st October 2025. The last date for belated and revised returns is 31st December 2025, while updated returns can be filed until 31st March 2030.
Income Tax Filing Due Dates for FY 2024-25 (AY 2025-26)
| Category of Taxpayer | Due Date |
|---|---|
| Individuals / HUF / AOP / BOI (Non-Audit Cases) | 31st July 2025 |
| Businesses Requiring Audit | 31st October 2025 |
| Businesses with Transfer Pricing Reports | 30th November 2025 |
| Revised Return | 31st December 2025 |
| Belated Return | 31st December 2025 |
| Updated Return | 31st March 2030 |
Consequences of Missing the ITR Filing Deadline
Failing to file your ITR on time leads to interest penalties, late fees, and restrictions on carrying forward business or investment losses.
- Interest on Late Filing: As per Section 234A, a 1% interest per month is charged on unpaid tax.
- Late Fees: Under Section 234F, a penalty of Rs. 5,000 applies if taxable income exceeds Rs. 5 lakh, while those earning below this threshold pay Rs. 1,000.
- Loss Adjustment Restriction: Taxpayers who miss the due date cannot carry forward business or capital losses for future tax benefits.
What Happens If You Miss the ITR Filing Deadline?
Even if you miss the original deadline, you can still file your return using the belated return or updated return provisions.
Belated Return Filing
- Taxpayers who fail to file their ITR by 31st July 2025 can file a belated return until 31st December 2025.
- Late fees and interest will still apply, but deductions and exemptions can still be claimed.
Updated Return Filing
- If you miss the 31st December deadline, you can file an updated return (ITR-U) until 31st March 2030, subject to additional conditions.
Can You Revise Your Filed ITR?
If you discover errors in your filed ITR, you can submit a revised return by 31st December 2025.
Example:
- Mr. X files his ITR for FY 2024-25 on 30th June 2025.
- On 1st August 2025, he realizes he forgot to claim certain deductions.
- He can revise the return until 31st December 2025.
Understanding Financial Year (FY) and Assessment Year (AY)
- Financial Year (FY): The year in which income is earned (e.g., FY 2024-25 runs from 1st April 2024 – 31st March 2025).
- Assessment Year (AY): The year in which tax is assessed and ITR is filed (e.g., AY 2025-26 is for income earned in FY 2024-25).
Advance Tax Payment Due Dates for FY 2025-26
Certain taxpayers must pay advance tax in installments. The due dates are as follows:
| Due Date | Advance Tax Installment | Tax Payable |
|---|---|---|
| 15th June 2024 | First Installment | 15% of tax liability |
| 15th September 2024 | Second Installment | 45% of tax liability |
| 15th December 2024 | Third Installment | 75% of tax liability |
| 15th March 2025 | Fourth Installment | 100% of tax liability |
| 15th March 2025 | Presumptive Scheme (Full Payment) | 100% of tax liability |
Staying informed about ITR deadlines is essential to avoid penalties and interest. Taxpayers should plan ahead, file returns on time, and take advantage of available deductions and exemptions.
