Missing the ITR filing deadline can result in penalties up to ₹5,000 and interest on outstanding taxes. Here are all the key dates for AY 2025-26 you should mark in your calendar.
Timely filing of your Income Tax Return (ITR) is not just a legal obligation; it is a vital part of maintaining a healthy financial profile. For the Assessment Year 2025-26 (Financial Year 2024-25), the Income Tax Department has strictly notified the due dates.
Key Deadlines
- July 31, 2025: Deadline for individuals, HUFs, and businesses that do not require an audit.
- September 30, 2025: Deadline for businesses and professionals whose accounts require a Tax Audit under Section 44AB.
- November 30, 2025: Deadline for businesses requiring Transfer Pricing reports.
- December 31, 2025: Final deadline for filing Belated or Revised Returns.
Consequences of Missing the Deadline
Failing to file your ITR by the original due date attracts multiple penal consequences:
- Late Fee (Section 234F): A fee of ₹5,000 is levied if the return is filed after the due date. (Reduced to ₹1,000 if total income is below ₹5 Lakh).
- Interest (Section 234A): 1% penal interest per month is charged on any outstanding tax liability.
- Loss of Benefits: You cannot carry forward capital losses or business losses to offset against future income if the return is belated.
Don't wait until the last minute when the tax portals are congested. Organize your Form 16, bank statements, and investment proofs today. Contact VAP & CO to ensure your filing is accurate and timely.
