SOURCE : NEW18 NEWS
Last Updated:May 19, 2025, 08:20 IST
ITR Filing Deadline 2025: A salaried individual must wait until June 15 or later for their employer to release Form 16 before filing the ITR.
Tax department notifies all 7 ITR forms for FY2024-25 (AY 2025-26).
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The major question among all taxpayers right now is: When is the deadline of the ITR filing this season?
ITR Filing Deadline 2025
Usually, the last date to file an ITR for a given year is July 31 for non-audit taxpayers. The tax department earlier extended the deadline to allow all taxpayers enough time to file the ITR on time, but it happened only in rare stances. It is advisable to file your ITR before the deadline to avoid late filing glitches.
In case, someone still misses the deadline, he/she can file a belated return by December 31, 2025 with penalties and interest.
Those individuals and professionals who require an audit can file the ITR before October 31, 2025.
What Happens If You Miss The Deadline?
Taxpayers then need to pay interest at a rate of 1 per cent per month or part month on the upaid tax amount.
Late Filing Penalty
- Rs 1,000: If total income is below Rs 5 lakh.
- Rs 5,000: If total income is above Rs 5 lakh and return is filed after the due date but before 31st December.
Losses under capital gains or business/profession can’t be carried forward to future years if you file late.
Income Tax Return (ITR): All Forms
An income tax return (ITR) form is a format in which income is reported to the tax department for tax payments. The choice of the correct ITR form is crucial, as filing the wrong one may lead to rejection or penalties.
From salaried individuals to businesses, trusts, and NGOs, there’s a specific ITR form for each taxpayer.
What Is Form 16 And When Will It Be Issued?
Salaried taxpayers receive Form 16 from their employers 15 days after the TDS is processed and appears in Form 26AS. Therefore, a salaried individual must wait until June 15 or later for their employer to release Form 16 before filing the ITR. However, it is not mandatory to have Form 16 to file an ITR; this can be done using Form 26AS and other documents.
- First Published:
May 19, 2025, 08:19 IST