Understanding the ITR filing last date for FY 2024-25 is crucial for taxpayers to avoid penalties and ensure compliance. This article covers deadlines for different taxpayer categories, updated return provisions from Budget 2025, and the consequences of missing due dates. Learn how timely filing helps in financial planning, reduces penalties, and improves tax management.
ITR filing date deadlines are important to avoid penalties and ensure compliance. The extended period allows taxpayers to file updated returns with accuracy. Anything filed late may attract penalties and interest; benefits may be lost, and there may be notices from the Department of Taxes. Good planning and timely filing assistance management of personal finances and tax workings. Keep yourself updated with the ITR filing last date and file well in advance.
When Is the Last Date to File ITR for FY 2024-25 (AY 2025-26)?
Non-audit taxpayers must file their income tax return for FY 2024-25 (AY 2025-26) by July 31, 2025. However, if the deadline is missed, belated submissions can still be made till December 31, 2025.
ITR Filing Due Dates for FY 2024-25 (AY 2025-26)
| Taxpayer Category | Tax Filing Deadline – FY 2024-25 *(unless extended) |
|
Individual / HUF / AOP / BOI (Books of accounts not subject to audit) |
31st July 2025 |
| Businesses (Audit required) | 15th October 2025 |
|
Businesses needing transfer pricing reports (for international/specified domestic transactions) |
30th November 2025 |
| Revised Return | 31st December 2025 |
| Belated/Late Return | 31st December 2025 |
| Updated Return | 31st March 2030 (4 years from the close of the relevant assessment year) |
Budget 2025 Update on ITR Filing:
In the 2025 budget, the ITR filing last date for FY 2024-25 has now been increased from 2 years after the end of the relevant assessment year to 4 years.
Benefits of an Extended Deadline
The benefits of the extended deadline for income tax return filings include:
- More Time for Taxpayers: This gives taxpayers additional time to organise all their necessary documents and file an accurate return.
- Reduced Penalties: Because of the extended deadline, there are more chances for taxpayers to file their returns without incurring penalties or interest for late filing.
- Opportunity for Updated Returns: Taxpayers might file returns again within that extended time frame with all that they have, thereby ensuring correct reporting and claiming missed deductions.
- Improved Compliance: The extended timeline improves overall tax compliance with tax returns, as businesses and individuals can meet their tax obligations more readily.
- Avoiding Disruptions: Extra time helps taxpayers to avoid the rush, thus making it easy to file returns without error or last-minute upsets.
- Better Planning: The extension gives taxpayers more space for financial planning, giving them an opportunity to file at a more convenient time during the extended window.
What if ITR Filing is Missed?
The maximum penalty of ₹5,000 applies if you file your ITR after 31st July 2025 but before 31st December 2025. The deadline for ITR submission for the financial year 2024-25 is 31st July 2025. If missed, you can still file a belated return by 31st December 2025 with the applicable penalty. However, small taxpayers having a total income up to ₹5 lakh shall get some relief, as the late filing penalty for them will be capped at ₹1,000.
Consequences of Missing the ITR Filing Deadline
Interest Charges
In case you are filing the return after the due date, an interest of 1% for a month or part thereof on the outstanding tax amount will be charged as per Section 234A.
Late Fees
A late fee is levied under Section 234F for late filing in the amount of ₹5,000. If the total income, however, is less than ₹5 lakh, this fine drops down to ₹1,000.
Loss Carry Forward
If a loss has been incurred due to investments, such as losses through shares, mutual funds, property, or business, one can even adjust it with their future income for tax benefits. But if you miss filing your ITR before the due date, you will forfeit the advantage of carrying these losses forward.
Delayed Refunds
File for returns before the deadline in order to get tax refunds before processing delays arise if you are eligible for tax refunds due to overpayment.
Notice from the Tax Department
Failing to file your ITR on time can result in a penalty of up to ₹5,000. If you have a valid reason and the tax officer accepts it, the penalty may be waived. In serious cases, non-filing can lead to legal action, including prosecution and imprisonment for up to seven years.
If you receive an income tax notice, you must respond on the e-filing portal and submit your ITR as required.
Interest on Unpaid Taxes
Section 234A imposes a 1% monthly interest on any unpaid taxes for failure to file your income tax return on time. The interest keeps accumulating until the return is filed. The longer the delay, the higher the total interest payable.
Choosing a Tax Regime
If you miss the ITR filing deadline, you may lose the option to choose your preferred tax regime. The default regime will apply, which could result in higher tax liability. Filing on time ensures you can select the tax regime that best suits your financial situation.
Due Dates for Paying Advance Tax Instalments for FY 2025-26
When dealing with income tax, certain tax obligations must be fulfilled within the prescribed deadlines, including filing income tax returns and timely payment of advance tax.
| Due Date | Installment Type | Tax to be Paid |
| 15th June 2024 | First Installment | 15% of total tax liability |
| 15th September 2024 | Second Installment | 45% of total tax liability |
| 15th December 2024 | Third Installment | 75% of total tax liability |
| 15th March 2025 | Fourth Installment | 100% of total tax liability |
| 15th March 2025 | Presumptive Scheme | 100% of total tax liability |
Things to Keep in Mind While Filing a Late Return
Failing to file your Income Tax Return (ITR) within the prescribed due date can lead to several penalties and disadvantages, including:
Delayed Refunds
Any income tax refund due to you will be issued only after your ITR has been filed and verified. Therefore, a delay in filing will mean a delay in the refund.
Interest Penalty Under Section 234A
Any taxpayer owing an ITR after the due date would be liable to simple interest at the rate of 1% for every month or part of a month on the defaulted amount of tax. Such interest would be calculated from the due date to the filing date, adding to your overall tax liability with each passing moment.
Late Filing Fees Under Section 234F
- If taxable income exceeds ₹5 lakh, a late fee of ₹5,000 will be levied.
- If taxable income is ₹5 lakh or less, late fees are ₹1,000.
- No penalty shall apply for income below the basic exemption limit (₹3 lakh).
Inability to Carry Forward Losses
Losses under business/profession and capital gains will not be allowed to carry forward; however, losses under house property and unabsorbed depreciation can be carried forward even in the case of late filing of ITR 5. Potential Notice from the Income Tax Department may send notices in such cases and create unnecessary botheration with additional surveillance.
Interest on Unpaid Taxes
Interest will be levied at a rate of 1 percent per calendar month or a calendar part of it for the period between the due date and the date of payment on the amount of tax remaining unpaid, along with the penalty.
Restriction on Choosing the Old Tax Regime
Taxpayers filing a belated return (after July 31, 2024) for the assessment year 2024-25 will not have the option of choosing the old tax regime. They will have to file returns under the new tax regime, which may mean they pay more taxes because of being unable to claim those deductions and exemptions available under the older regime.
Important Tips for New ITR Filers in 2025
Filing your Income Tax Return (ITR) for the first time can be a daunting task. To help you with the process easily, consider the following essential tips:
- Know the Deadlines: File on or before July 31 of the year 2025, with belated returns accepted until December 31 of the same year with penalties.
- Gather Documents: Form 16, Form 26AS, and AIS should all be placed in position for accurate filing.
- Choose the Right ITR Form: The proper form should be chosen depending on the sources of income and the status of residency.
- Old vs. New Tax Regime: Compare tax benefits before choosing the regime that suits you.
- Importance of Reporting: Check thoroughly to avoid any delays or tax notices.
- Return Validation: Go for complete e-verification using Aadhaar OTP, net banking, or sending a signed paper copy.
- Avoid Penalty: Late submission may lead to a penalty of up to ₹5,000 plus interest on unpaid tax.
- Seek Guidance: Consult a tax expert to make the filing process easy.
Conclusion
The ITR filing last date has the most penalties, and legal issues can be avoided by filing your ITR on time. The benefit of extended deadlines comes with late fees. Proper tax planning keeps you in compliance and financially standing. Make an effort to file taxes well before the deadline and avoid any last-minute hurdles. By doing it in time, you can keep your records squeaky clean and unburdened.
FAQs
What is the ITR filing's last date for AY 2024-25?
July 31, 2025 (individuals), October 31, 2025 (companies requiring audit).
Can we file an ITR for the last 3 years?
Yes, you can file ITR-U if you missed filing the last two ITRs.
What is the penalty for late filing of ITR?
Up to ₹5,000 under Section 234F; ₹1,000 if income within ₹5 lakh.
What is the ITR filing's last date for companies?
July 31, 2025 (no audit), October 31, 2025 (audit required).
Which section allows ITR filing after the due date?
Belated ITR can be filed under Section 139(4) after the due date.
Can I revise my ITR before the due date?
Yes, under Section 139(5) for corrections.
