Last 18 days left to file your income tax return (ITR) for the Financial Year 2025. The ITR filing deadline is September 2025, which was originally July 31, 2025. Filing ITR before the last date is important because after the due date, it attracts penalties under Section 234F of the Indian Income Tax Act.
The following are the deadlines for different taxpayers:
15 September 2025: For individuals/HUFs/AOPs/BOIs who don’t require audit
31 October 2025: For taxpayers whose accounts require audit
31 November 2025: For cases requiring transfer pricing reports
31 December 2025: Belated/revised returns with penalty
31 March 2030: Deadline for updated returns under the Finance Act
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Benefits of filing ITR early
There are various benefits of filing your ITR early. Some of them include:
Refund
If you file your ITR as early as possible, you can verify it early, and your refund will also be processed earlier.
Penalties
If you cross the due date of filing ITR, you will have to pay a penalty of Rs 5,000. However, the penalty depends on your annual income. For example, if the annual income of an individual does not exceed Rs 5 lakh, the penalty shall not exceed Rs 1,000.
Loan approval
Filing your ITR on time can also help in the easy approval of loans and visa processing.
What happens if you miss the deadline
If you don’t file your income tax return before the deadline, you will have to pay a penalty of Rs 5,000. However, if your annual income is below Rs 5 lakh, then the penalty amount would be Rs 1,000.
If taxes are still owing, you will additionally be required to pay interest on the unpaid tax under Section 234A.
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While filing an ITR, you should gather all your relevant documents in advance. These documents include:
- Form 16 Part A and Part B
- Capital gains statement
- Bank Statements
- Interest certificates
- PAN
- Aadhaar
- AIS, TIS, and Form 26AS
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