The deadline for filing income tax returns (ITR) for the financial year 2024–25 (assessment year 2025–26) is September 15, 2025 for individuals whose accounts do not require an audit.
If you fail to file your return by September 15, your ITR will be treated as a belated return, and you may have to pay a penalty.
Under Section 234F of the Income Tax Act, 1961, a late fee of up to Rs 5,000 is charged if the return is filed after the due date. For those with taxable income up to Rs 5 lakh, the penalty is reduced to Rs 1,000.
Importantly, the penalty applies even if you don’t owe any tax at the time of filing.
Apart from the penalty, taxpayers with outstanding tax dues must also pay interest on the pending amount while filing a belated return.
As per income tax laws, filing an ITR becomes compulsory even if your income is below the basic exemption limit, provided you meet certain conditions.
These include spending Rs 2 lakh or more on foreign travel, paying Rs 1 lakh or more as electricity bills in a year, or depositing Rs 1 crore or more in one or more current accounts. Other prescribed conditions under Section 139(1) also make ITR filing mandatory.
If your taxable income does not exceed the basic exemption limit (before deductions), you are not required to pay any penalty for filing after the due date. However, you may still need to file a return if you wish to claim an income tax refund.
Beyond being a legal duty, filing your return helps you build financial credibility. Income tax returns act as proof of income, making it easier to get loans, credit cards, or visas. The Income Tax Department also views timely filing as a way of showing responsibility towards the nation.