It’s time to file an Income Tax Return (ITR) for the assessment year 2025-26. The Central Board of Direct Taxes (CBDT) has notified different ITR forms (Forms 1-7). Various supporting utilities are expected to be updated soon to facilitate the assessees’ filing of ITRs on the e-filing website. With online utilities available on the tax portal, the ITR filing for the financial year 2024-25 (assessment year 2025-26) will start.
In such a situation, it is very important to know the deadline for your taxpayer category. If you miss the deadline, you may have to pay a fine, and many benefits may also be lost.
Who should file ITR and what’s the deadline?
| Category of taxpayer | Last date |
| Individuals, HUFs, AOPs, BOIs (not required to undergo audit) | July 31, 2025 |
| Businesses/professionals whose accounts are audited | October 31, 2025 |
| Domestic companies | October 31, 2025 |
| Taxpayers with transfer pricing reports | November 30, 2025 |
| Belated or revised returns | December 31, 2025 |
What happens if you miss the deadline?
If you do not file ITR on time, there can be some major disadvantages:
Late fees:
If your total income is less than ₹5 lakh, then ₹1,000
If it is more than ₹5 lakh, then a penalty of up to ₹5,000 will be levied (under section 234F).
Interest on outstanding tax:
If you have not paid the tax, then you will have to pay interest of 1% every month on it (under section 234A).
Tax planning benefits may also be lost:
If you do not file the return on time, you will not be able to carry forward some losses in the future, which may also reduce the opportunities to save tax.
Has there been any change in the deadlines this year?
No, the dates for filing ITR for the financial year 2024-25 have so far been kept the same as last year. But this time, there have been some changes in the new ITR forms and reporting, which are worth paying attention to while filing the return.
Advice for salaried persons
If you are a salaried taxpayer, then you are advised not to wait for the deadline of July 31, 2025. As soon as you get Form 16 from your employer by mid-June, file ITR immediately. This will not only avoid the crowd, but will also provide relief from technical problems on the portal.
Last date for late or revised returns
If for some reason you are unable to file ITR on time, then delayed or revised returns can be filed till December 31, 2025. But with this, you will have to pay penalty and interest, and you will not get the benefit of some tax benefits like loss carry forward.
Deadline for those for whom audit is necessary
Businessmen or professionals who are audited: October 31, 2025
Taxpayers with transfer pricing report: November 30, 2025
Summing up…
Filing ITR is not just a responsibility, but also the beginning of proper tax planning. By filing returns on time, you not only avoid penalty, but also secure many tax benefits in the future. So prepare the documents in time and file ITR without delay.
