As the September 15 deadline for filing Income Tax Returns (ITR) for the financial year 2024–25 approaches, experts caution that taxpayers have limited time to complete their filings. This year, delays in the release of ITR utilities and persistent portal issues have further reduced the effective compliance window, making timely preparation critical.
Tax professionals note that around 3 crore returns are still pending, leaving many individuals and businesses at risk of last-minute errors or penalties.
While representations have been made to the Central Board of Direct Taxes (CBDT) seeking an extension, no official relief has been announced yet.
What taxpayers should prioritise in the final week?
An tax expert, outlines the key steps to ensure smooth compliance:
- Double-check TDS/TCS – Reconcile all entries with Form 26AS to avoid mismatches.
- Review income and deductions – Accurately claim deductions under Sections 80C, 80D, and 80G.
- Select the correct ITR form – Filing with the wrong form can lead to rejection or delayed processing.
- Verify AIS and form 26AS – Cross-check income and tax credits reported across documents.
- File on time – Late filings can attract penalties of up to ₹5,000, along with interest and higher scrutiny risk.
Tax experts advise against waiting until the last day to file, as portal traffic tends to peak closer to the deadline, increasing the chances of technical errors or failed submissions.
Filing early also provides additional time to correct discrepancies in income statements or tax credits.
