Income Tax Return 2025: Deadlines for Individuals & Businesses — Avoid Penalties and Tax Losses
By Author | May 20, 2025 | Income Tax Recent News – 2025
It’s time to file your Income Tax Return (ITR) for the Assessment Year 2025-26. The Central Board of Direct Taxes (CBDT) has notified ITR Forms 1 to 7, and updated utilities for filing will be available soon on the official e-filing portal. Filing for the financial year 2024-25 will begin shortly.
Failing to file on time could result in penalties and loss of important tax benefits. Here’s everything you need to know.
🗓️ ITR Filing Deadlines for AY 2025–26
| Taxpayer Category | Due Date |
|---|---|
| Individuals, HUFs, AOPs, BOIs (not requiring audit) | July 31, 2025 |
| Businesses/professionals requiring audit | October 31, 2025 |
| Domestic companies | October 31, 2025 |
| Taxpayers with transfer pricing reports | November 30, 2025 |
| Belated or revised return filers | December 31, 2025 |
⚠️ What If You Miss the Deadline?
Missing the deadline can lead to:
1. Late Filing Fees (Section 234F)
- Income below ₹5 lakh: ₹1,000 penalty
- Income above ₹5 lakh: Up to ₹5,000 penalty
2. Interest on Due Tax (Section 234A)
You will be charged 1% interest per month on the outstanding tax amount.
3. Loss of Tax Benefits
You can’t carry forward certain losses if you miss the due date. This limits your tax-saving potential in the future.
✅ Have Deadlines Changed This Year?
No, the due dates remain the same as last year. However, the new ITR forms include some changes in reporting requirements, so review them carefully when filing.
👩💼 Tips for Salaried Employees
Start early. Once you receive Form 16 by mid-June, file your return without delay. Early filing:
- Avoids server issues
- Prevents last-minute errors
- Gives you peace of mind
🕒 Deadline for Late or Revised Returns
If you miss the original due date, you can still file:
- Belated or revised return: Until December 31, 2025
However, late fees and interest apply, and you lose eligibility for certain deductions like loss carryforward.
🧾 Deadlines for Audited Accounts
- Audit-required professionals/businesses: October 31, 2025
- Transfer pricing report holders: November 30, 2025
📌 Conclusion: Don’t Delay Your ITR Filing
Filing your ITR on time:
- Saves you from penalties
- Preserves your right to claim future tax benefits
- Builds a strong financial record
Get your documents ready and file early to ensure smooth processing and maximum tax advantage.
