The ITR filing deadline for FY 2024-25 (Assessment Year 2025-26) is here, and there’s a lot to unpack this year.
With the Central Board of Direct Taxes (CBDT) extending the due date and introducing major changes in ITR forms, it’s important to stay ahead of the curve.
This blog will explain the latest updates, explain what the new due date means for you and your clients, and share practical compliance tips to make this tax season smoother.
The Big News: ITR Filing Deadline Extended to September 15, 2025
Originally, the due date for filing Income Tax Returns (ITR) for most taxpayers was July 31, 2025. However, the CBDT has officially extended this deadline to September 15, 2025.
This extension applies to individual taxpayers, Hindu Undivided Families (HUFs), and other non-audit cases, which includes most salaried employees and small businesses.
👉 Why the Extension?
- The ITR forms for Assessment Year 2025–26 have been substantially revised in terms of structure and content to make compliance easier and enhance transparency.
- The IT Department needed extra time for system development, integration, and testing of the updated utilities.
- TDS credits from statements filed by May 31, 2025, are expected to reflect only from early June, reducing the effective filing window without this extension.
👉 What This Means for CAs and Taxpayers
- More time to gather documents, reconcile accounts, and file accurate returns.
- Avoid the rush and reduce errors caused by last-minute filings.
- But beware: this is an extension, not a free pass to delay indefinitely. Filing after the deadline will attract penalties and interest.
What’s New in ITR Filing for FY 2024-25?
The Income Tax Department has introduced several key changes in the ITR forms and filing process for AY 2025-26. Here’s a quick view of the most vital updates:
1. Revised ITR Forms with New Disclosures
- Detailed ‘Place of Work’ disclosure for House Rent Allowance (HRA) claims.
- Requirement to mention policy or document numbers for certain deductions.
- Enhanced reporting of capital gains from listed equity investments, reflecting the Union Budget 2024 changes on long-term capital gains (LTCG).
2. New Tax Regime Default
- The new tax regime is now the default for individual taxpayers and HUFs.
- Taxpayers can still opt out of the old regime, which offers more exemptions and deductions, but this must be done explicitly during filing.
3. TDS Changes Effective October 1, 2024
- Revised TDS provisions impact various payments and require careful attention to ensure correct credit reflection in Form 26AS and Annual Information Statement (AIS).
4. Introduction of ITR-U (Updated Return)
- Taxpayers can now file an updated return using the new ITR-U form up to 48 months after the end of the relevant assessment year.
- This is a progressive step to allow corrections or updates beyond the usual timelines, promoting voluntary compliance.
Compliance Tips for Chartered Accountants: Your Secret Sauce
Filing ITRs accurately and on time is a big responsibility for CAs. Here’s a checklist of compliance tips to help you and your clients breeze through this tax season:
👉 Stay Organized: Reconcile Form 26AS & AIS
- Always cross-verify income and TDS details in Form 26AS and the Annual Information Statement before filing.
- Mismatches can trigger notices or delay refunds.
👉 Collect and Verify All Client Documents
- Ensure you have Form 16, bank statements, investment proofs, loan statements, and details of foreign assets, if any.
- Don’t overlook small income sources like dividends or interest from multiple accounts.
👉 Choose the Correct ITR Form
- Using the wrong form can cause processing delays or lead to rejection.
- Refer to the latest Income Tax Department guidelines or consult updated form utilities for AY 2025-26.
👉 Filing Process Best Practices
- Use the latest Excel utilities or online portal for ITR-1, ITR-4, and other forms released by the Income Tax Department.
- Start early to avoid portal congestion and technical glitches.
- Don’t forget to e-verify the return within 30 days of filing to complete the process.
👉 Avoid Common Errors
- Double-check income disclosures, especially capital gains and exempt income to avoid costly ITR filing mistakes.
- Ensure all deductions have proper supporting documentation and policy numbers where required.
- Verify HRA claims with accurate details on the place of work.
👉 Handling Late Filing and Revised Returns
- If the deadline is missed, file a belated return by December 31, 2025, to avoid losing certain benefits like loss carry forward.
- Use the revised return facility to correct errors before December 31, 2025.
- Keep in mind that late filing may incur penalties under Section 234F and interest charges under Section 234A.
👉 Advise Clients on Loss Carry Forward
- Timely filing is essential to retain the right to carry forward losses from capital gains, business, or house property.
- Late filing disallows this benefit, increasing future tax liabilities.
Deadline Extension = More Power to You
The extra 46 days granted by the CBDT is a golden opportunity for CAs to:
- Manage client workloads more effectively without the July-end rush.
- Review returns thoroughly to minimize errors and avoid notices.
- Plan taxes effectively and guide clients on the optimal tax regime and available deductions.
Penalties & Interest: The Not-So-Fun Stuff
Missing the ITR filing due date can lead to:
- Late filing fees (Section 234F) range from ₹1,000 to ₹5,000, depending on the delay and income level.
- Interest on unpaid tax under Section 234A is charged at 1% per month or part of a month on the outstanding tax amount.
- Delays in refund processing and increased scrutiny from tax authorities.
So, even with the extension, timely filing is the best way to avoid these hassles.
Your Game Plan for FY 2024-25 ITR Filing
To sum up:
- The ITR filing deadline for FY 2024-25 is September 15, 2025, for most taxpayers, thanks to CBDT’s extension.
- Major updates in ITR forms and tax rules require careful attention to detail.
- Make the most of the extension; prioritize accuracy and compliance over filing in haste.
- Adhere to compliance tips to ensure hassle-free filing and prevent penalties.
- Keep clients informed about deadlines, penalties, and new filing options like ITR-U.
Quick FAQ for CAs on ITR Filing Deadline
Q1: Can I file after September 15, 2025?
Yes, but only as a belated return by December 31, 2025, with penalties applicable.
Q2: What about audit cases?
Taxpayers needing an audit must file by October 31, 2025, while transfer pricing cases have a deadline of November 30, 2025.
Q3: What if the portal crashes at the last minute?
Start filing early to avoid last-minute issues. If unavoidable, keep proof of attempts and communicate with the IT department promptly.
