ITR Filing 2024-25 deadline extended to September 15, 2025. Know 10 key updates, penalties, forms, and tips to file ITR for AY 2025-26 on time.
Every year, lakhs of Indian taxpayers race against time to meet the Income Tax Return (ITR) filing deadline. For Assessment Year (AY) 2025–26, the usual deadline of July 31, 2025 was extended to September 15, 2025, giving some breathing space to non-audit taxpayers like salaried individuals, pensioners, small business owners, and Hindu Undivided Families (HUFs).
But here’s the catch: with glitches on the income tax portal, refund delays, and rising demands for another extension, many are wondering — will the government extend the ITR deadline again?
Before you decide whether to wait or file immediately, let’s break down 10 key updates, rules, penalties, and tips you need to know about ITR filing for FY 2024–25.
1. Who Needs to File ITR for AY 2025–26?
Filing ITR is not just for people with high incomes. Even if your earnings are modest, you may fall under the requirement.
You need to file ITR if you fall into these categories:
- Salaried & Pensioners – Income from salary, allowances, or pension.
- HUFs – Income from house property, capital gains, or other sources.
- Small Business Owners & Professionals – Under presumptive taxation (Sections 44AD, 44ADA, 44AE) with turnover below the audit threshold.
- Investors – Earning from capital gains in stocks, mutual funds, or property.
- Individuals with foreign assets – Must disclose even if income is below the basic exemption.
💡 Tip: Don’t assume “low income = no ITR.” If TDS was deducted or you want a refund, filing ITR is the only way to claim it.
2. New ITR Filing Deadline: September 15, 2025
- The original due date: July 31, 2025.
- Extended deadline: September 15, 2025 (for non-audit cases only).
- Covers: Salaried individuals, HUFs, pensioners, and small business owners not subject to audit.
📌 Important: As of today, there is no official confirmation of a second extension. Waiting in hope can be risky because missing the deadline brings penalties and delayed refunds.
3. What If the Deadline Is Missed?
If you miss the September 15 date:
- Penalty under Section 234F:
- ₹5,000 if total income exceeds ₹5 lakh.
- ₹1,000 if income is below ₹5 lakh.
- Interest: 1% per month on unpaid tax under Sections 234A/B/C.
- Refund delay: Refunds are processed only after filing, so late filers usually face longer wait times.
👉 Bottom line: A missed deadline isn’t the end of the world, but it will cost you.
4. Belated & Revised Returns – Second Chance
Didn’t file on time? You still have options:
- Belated Return: Can be filed up to December 31, 2025, with penalty.
- Revised Return: If you filed incorrectly, you can revise by December 31, 2025.
- Updated Return (ITR-U): For bigger corrections, you get up to March 31, 2030 (but with extra tax liability).
💡 Think of this as a “second innings in cricket” — you still get to bat, but the conditions aren’t as favorable.
5. Choosing the Right ITR Form (ITR-1 to ITR-4)
Filing with the wrong form can invalidate your return.
- ITR-1 (Sahaj): Salary, pension, one house property, income ≤ ₹50 lakh.
- ITR-2: Salary + multiple house properties, capital gains, foreign income/assets.
- ITR-3: Business/professional income (not presumptive).
- ITR-4 (Sugam): Presumptive taxation scheme under 44AD/44ADA/44AE.
👉 Mistake alert: Many professionals wrongly use ITR-4. If you have foreign assets or capital gains, you must use ITR-2 or ITR-3.
6. Old vs New Tax Regime – Choose Wisely
- Old Regime: Higher rates, but multiple deductions (80C, 80D, HRA, etc.).
- New Regime (default from FY 2024–25): Lower rates, fewer deductions.
📌 If you don’t actively select, the new regime will apply by default. For someone with few deductions, this may save tax. But if you have housing loan, ELSS, insurance, or tuition fees, the old regime may be better.
💡 Use the income tax calculator on incometax.gov.in before finalizing.
7. Key Tax Rule Changes in FY 2024–25
Here are some crucial updates to keep in mind:
- LTCG (Long-Term Capital Gains): From July 23, 2024, tax rate increased to 12.5% (earlier 10%).
- Foreign Assets Disclosure: Must be reported in ITR-2/3; misreporting can lead to penalties.
- Directorship & Unlisted Shares: Mandatory disclosure in ITR, even if no income earned.
8. How to File ITR Step-by-Step (Online Method)
- Visit incometax.gov.in.
- Login with PAN/Aadhaar & password.
- Go to e-File → Income Tax Return → File ITR.
- Select AY 2025–26 and correct form.
- Review auto-populated data (salary, TDS, bank interest).
- Add missing income/deductions.
- Choose tax regime (Old/New).
- Preview & confirm before submission.
👉 Pro tip: Don’t leave it for the last day — the portal often slows down due to heavy traffic.
9. Refund Delays & Portal Glitches
Many taxpayers have reported:
- Sluggish ITR processing.
- Refund status not updating.
- Technical issues during filing.
This has led to professional bodies like ICAI requesting further extensions. However, with 5+ crore ITRs already filed, the government may not be keen on extending again.
10. Why Filing Early Is Always Better
- Avoids last-minute portal crashes.
- Ensures faster refunds.
- Gives time to fix errors (via revised return).
- Peace of mind — no deadline anxiety.
Think of ITR filing like booking train tickets during Diwali — the earlier you book, the smoother your journey.
🧠 What You Should Remember
- September 15, 2025 is the extended deadline for non-audit taxpayers.
- Waiting for another extension is a gamble — penalties and delays will hurt.
- File with the correct form and regime, disclose all income, and double-check details.
- Belated filing is possible, but costs more.
📣 Conclusion
Filing ITR is not just a compliance task — it’s a financial health check. Whether you’re a salaried professional, a small business owner, or an investor, filing before September 15, 2025 saves you money, stress, and uncertainty.
👉 Don’t wait for “what if” extensions. File today, stay compliant, and secure your refunds faster.
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