Missed ITR Deadline? It Could Cost You Rs. 5,000, Here’s New Filing Schedule

The Ministry of Finance has announced that the Central Board of Direct Taxes (CBDT), under Section 119 of the Income tax Act, 1961, has extended the deadlines of filing of Return of Income under section 139 (1) of the Act for the Assessment Year 2025-26.

The deadline has been scheduled for September 15, 2025. Previously it was July 31, But if any taxpayer missed this deadline, they still have the option to file a belated return by December 31, 2025. However, filing a belated return, you may become liable for penalties of up to Rs. 5,000.

Many taxpayers like to file their Income Tax Return (ITR) early so they do not attract penalties and other consequences. Tax experts recommended taxpayers file their ITR as early as possible because late filing will lead to serious problems.

Important ITR filing 2025 dates:

September 15

Deadline for individuals/HUFs/AOPs/BOIs not requiring audit

October 31

Deadline for taxpayers whose accounts require audit

November 30

Deadline for cases requiring transfer pricing reports

December 31

Due date for belated/revised returns with penalty

March 31, 2025

Due date for updated return under the Finance Act

Consequences Applicable if Taxpayer Misses ITR Due Date:

Missing ITR filing before the deadline may attract these following penalties and consequences:

• Interest at a rate of 1% per month
• Rs. 5,000 (if your total income exceeds Rs. 5 lakhs)
• Rs. 1,000 (if your total income is within Rs. 5 lakh)
• Taxpayer cannot carry forward loss.
• Taxpayer cannot opt for Old Tax Regime as well.